Labcorp has launched a software suite to help clinical trial sites with sample and data management in another effort to expand its central laboratories business.
The software – rolled out this month – include “workflow facilitation” systems designed to integrate clinical trial sample collection, data tracking and analytics.
The Burlington, North Carolina headquartered firm said the software will also provide support for study management and clinical investigators.
Jon DiVincenzo, EVP and president, central laboratories and international at Labcorp, framed the service as means of accelerating clinical trials.
"The patient-investigator-biopharma sponsor relationship is at the foundation of a successful clinical trial. Global Trial Connect simplifies the investigator workflow, improves the patient experience and ultimately enables biopharma sponsors to bring therapies to market faster.”
Central labs
Labcorp spun off its contract research organization (CRO) services division as Fortrea last year. However, central labs remains an important area for the firm based on the comments made during its first quarter presentation in April
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In the first three months of 2024 Labcorp generated revenue of $3.2 billion, an increase of 5% year-on-year. The firm cited the biopharmaceutical industry as a growth driver, reporting that revenue from such customers grew 8%.
At the time CEO Adam Schechter told analysts “Biopharma's growth was driven by strength in central laboratories, partly offset by early development research laboratories.”
This point was reiterated by CFO Glenn Eisenberg, who said “The revenue growth was driven by continued strength in Central Labs, which was up 13%, while early development was down 4% due to continued higher-than-normal cancellations and lower orders.”
The importance of central labs to Labcorp’s strategy was also underlined in January when the firm partnered with digital technology and software development firm, Hawthorne Effect.
At the time, Labcorp said the intention was to use Hawthorne’s digital study visit and data collection platform in decentralized and hybrid clinical trials.
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