UPDATED: Labcorp is spinning out its clinical development unit in major shakeup
Labcorp announced this morning that it is spinning out most of its CRO business, eight years after its $6 billion Covance acquisition.
Labcorp will keep its core business directed at diagnostic testing, the company said Thursday morning after the Wall Street Journal reported the split earlier in the morning, citing sources familiar with the matter. A tax-free spinout is expected in the second half of next year, the company said.
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