LabCorp Buys Sciformix For Undisclosed Terms - Quick Facts

(RTTNews) - LabCorp (LH), a global life sciences company, said Monday that it has acquired Sciformix Corp., a scientific process outsourcing company focused on pharmacovigilance and regulatory solutions for biopharmaceutical and medical devices clients. Terms of the transaction were not disclosed.

Sciformix will become part of Covance, LabCorp's drug development business, and expand Covance's pharmacovigilance capabilities for post-approval safety solutions.

"This acquisition strengthens our position in the later phases of drug and device development, particularly for post-marketing pharmacovigilance and market access solutions. The addition of Sciformix's scientific and technology expertise, combined with its quality-driven processes, will support Covance's work in transforming drug development through innovation and greater efficiency," said David King, chairman and chief executive officer of LabCorp.

Sciformix's offerings include post-marketing safety and risk management, clinical development support services, regulatory affairs and operations, technology services, and real-world evidence solutions.

LabCorp noted that the majority of Sciformix's 1,100 employees are based in Asia, accelerating Covance's global expansion.