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LabCorp sees revenues jump from Covance deal, but profits slide

2015-04-28 08:14:57| Biotech - Topix.net

Laboraratory Corp. of American saw its revenues rise during the first quarter thanks largely to its purchase in mid-February of drug development services company Covance . But that boost in revenues didn't translate into stronger profits, with the Burlington-based LabCorp posting net earnings of only $700,000 after more than $100 million in costs related to the Covance deal were factored in.

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Category:Biotechnology and Pharmaceuticals

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