LabCorp (NYSE: LH) has landed a five-year contract with pharmaceutical firm Bristol-Myers Squibb to provide biomarker and central laboratory testing services.
Financial details of the contract were not disclosed. The deal was announced Monday.
Also on Monday, LabCorp said it was expanding services and tests related to the diagnosing, testing and monitoring of inflammatory bowel disease/
LabCorp and Squibb have worked together in the past, but the new deal calls for more services linked to Squibb early- and late-stage clinical development programs.
“We are excited to expand our relationship with Bristol-Myers Squibb to provide a more flexible and integrated approach to laboratory testing services in support of their innovative clinical development pipeline,” said Dr. Mark Brecher, LabCorp’s chief medical officer.
Meanwhile, the new IBM tests are designed to target ulcerative colitis and Crohn’s disease.
”For patients diagnosed with IBD, LabCorp’s TPMT Enzyme Activity assay can be utilized prior to thiopurine drug treatment to assess dosing levels and potential adverse drug reaction,” LabCorp stated.