Total revenues reached $2.54 billion during the quarter, while LabCorp Diagnostics' revenues rose more than 8 percent to $1.80 billion.
As the development of drugs and diagnostics are increasingly beginning to merge, Covance is aiming to dedicate resources to capture market share.
The company reported $2.27 billion in revenues and updated its year-end guidance.
The company reported $2.22 billion in second quarter revenues, with $620.8 million attributable to the Covance acquisition.
LabCorp subsidiary Covance will process patient samples in Singapore and send them to Epic's San Diego lab for CTC analysis.
Acquisition of the contract research organization, since closing on Feb. 19, contributed $267.2 million to LabCorp's revenues, driving 18.7 percent growth year over year.
According to CEO David King, the deal allows LabCorp greater access to therapeutic areas, as it forecasts $100 million in incremental CDx revenues by 2018.
The notes, being offered in four tranches, will be used to help pay for LabCorp's $6.1 billion acquisition of Covance.
NEW YORK (GenomeWeb) – Laboratory Corporation of America and Covance today announced a definitive agreement under which LabCorp will acquire Covance for about $6.1 billion in cash and stock.
NEW YORK (GenomeWeb) – EMD Serono Research and Development Institute, a subsidiary of Merck KGaA, is collaborating with Massachusetts General Hospital to research systemic lupus erythematosus and lupus nephritis pathogenesis.
The New York City medical examiner is overseeing an effort to identify missing persons using DNA, according to the Associated Press.
Nobel laureate Günter Blobel has died at 81, the New York Times reports.
In PNAS this week: mouse model of genetically induced emphysema, gene expression signatures of circulating melanoma cells, and more.
Technology Review reports that 2017 was the year of consumer genetic testing and that it could spur new analysis companies.