Labcorp cuts growth outlook for research unit as biotech funding crunch persists
Update: 2025-10-29
Description
Labcorp's contract research unit, responsible for early-stage drug development, faces a slower growth outlook due to reduced spending by biotech clients. Despite a strong overall business and raised profit forecast, investor concerns about this segment led to a share drop. Labcorp is adapting by consolidating sites and restructuring businesses, aiming for a leaner, more focused organization amidst tight biotech funding. The company now expects its contract research unit to grow by 6-7% this year, with low single-digit growth projected for next year.
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