je.st
news
Tag: covance
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.
LabCorp raising $2.9 billion to help fund Covance purchase
2015-01-22 20:12:56| Biotech - Topix.net
As it heads toward potentially closing on its $6.1 billion purchase of Covance next month, Burlington-based Laboratory Corp. of America is looking to sell $2.9 billion in senior notes to help fund the deal. LabCorp announced the offering Wednesday , with the notes being sold in four tranches with maturities between 2020 and 2045, and interest rates from 2.625 percent to 4.7 percent, depending on maturity date.
Tags: purchase
fund
billion
raising
Covance shareholders to vote next month on $6.1B acquisition by LabCorp
2015-01-14 05:28:52| Biotech - Topix.net
Shareholders of New Jersey-based clinical trial research firm Covance will vote Feb. 18 on whether the company should be acquired by Laboratory Corp. of America in a $6.1 billion deal announced last year . The purchase of the company by Burlington-based LabCorp will create a much broader health care company that will be one of the biggest in the world focusing on medical testing and clinical trial research.
Tags: month
vote
acquisition
shareholders
LabCorp, Covance tap Deloitte to help with merger
2015-01-06 23:35:19| Biotech - Topix.net
Burlington-based Laboratory Corp. of America and Covance , the New Jersey-based clinical trial research firm it is purchasing for $6.1 billion, have tapped big-league consulting firm Deloitte to help with the integration of the two companies post-merger. The news came in a letter to employees of both companies sent to close out 2014 from Steve Anderson , senior vice president and global head of clinical trials for LabCorp , and Jared Freedberg , vice president of corporate development for Covance .
Tags: with
tap
merger
deloitte
LabCorp gets answer from FTC on $6B purchase of Covance
2014-12-16 23:09:50| Biotech - Topix.net
Burlington-based Laboratory Corp. of America's plan to purchase Covance Inc. for $6.1 billion has passed through a 30-day period of review by federal regulators with no objections, setting the stage for shareholders to vote on the deal in the near future. The deal was put before the Federal Trade Commission for review, with regulators assessing its impact on consumers and competition, through a Hart-Scott-Rodino filing.