Covance Honored with Frost & Sullivan Asia Pacific Award for Fifth Consecutive Year

Awarded CRO 2018 Customer Value Leadership Award

BURLINGTON, N.C.–(BUSINESS WIRE)–LabCorp® (NYSE: LH), a leading global life sciences company, today
announced that its Covance Drug Development business (Covance) has been
awarded the 2018 Frost & Sullivan Asia Pacific CRO Customer Value
Leadership Award. The award reflects Covance’s continued commitment to
its Asia Pacific customers, with investments in deep scientific and
therapeutic expertise, and the most comprehensive drug and device
development capabilities.


“Our Asia-Pacific organization has transformed in recent years with
significant expansion in our operations and new capabilities to meet the
unique demands of this exciting market,” said John Ratliff, CEO,
Covance. “We are honored to work with some of the most innovative
companies in the region, who are driving global advances in precision
medicine. Whether they need regional services and insight or support
with a global strategy, Covance can provide the data-driven solutions
and expertise required for success. I’m proud to dedicate this honor to
the Asia-Pacific team, who have driven our scientific, technical and
operational expansion in the region, while remaining laser-focused on
creating value for our customers.”

Over two decades, Covance has expanded its Asia-Pacific solutions,
including non-clinical development, central laboratory services,
clinical development and market access solutions. In 2018, Covance has
enhanced its operations in China, India, Korea and Japan and deepened
its expertise in key therapeutic areas, including oncology, NASH and
cardiovascular outcomes. The recent additions of Chiltern and Sciformix
have expanded its footprint in the region, specifically strengthening
its clinical development, post-approval and pharmacovigilance offerings.

“With exceptional operational capabilities and wide global reach,
Covance is one of the leading CROs globally and in Asia Pacific,” said
Sanjeev Kumar, industry manager, Transformational Health, Frost &
Sullivan. “The company has created a strong brand perception in the
minds of customers, resulting in several long-term partnerships and
alliances. Consistently providing local and multinational companies with
regional knowledge, clinical laboratory testing services, safety and
efficacy data for drug development, as well as commercialization
solutions, Covance’s efforts in addressing customer needs through
capacity development is reflected in its strong financial performance.
These strategies demonstrate the company’s immense potential to continue
its impressive progress in the growing Asia-Pacific market.”

About LabCorp

LabCorp (NYSE: LH), an S&P 500 company, is a leading global life
sciences company that is deeply integrated in guiding patient care,
providing comprehensive clinical laboratory and end-to-end drug
development services. With a mission to improve health and improve
lives, LabCorp delivers world-class diagnostic solutions, brings
innovative medicines to patients faster, and uses technology to improve
the delivery of care. LabCorp reported net revenues of more than $10
billion for 2017. To learn more about LabCorp, visit www.LabCorp.com,
and to learn more about Covance Drug Development, visit www.Covance.com.

Forward-Looking Statements

This press release contains forward-looking statements including but
not limited to statements with respect to estimated 2018 guidance and
the related assumptions, the impact of various factors on operating and
financial results, expected savings and synergies (including from the
LaunchPad initiative and from acquisitions), and the opportunities for
future growth. Each of the forward-looking statements is subject to
change based on various important factors, including without limitation,
competitive actions and other unforeseen changes and general
uncertainties in the marketplace, changes in government regulations,
including healthcare reform, customer purchasing decisions, including
changes in payer regulations or policies, other adverse actions of
governmental and third-party payers, changes in testing guidelines or
recommendations, adverse results in material litigation matters, the
impact of changes in tax laws and regulations, failure to maintain or
develop customer relationships, our ability to develop or acquire new
products and adapt to technological changes, failure in information
technology, systems or data security, employee relations, and the effect
of exchange rate fluctuations. Actual results could differ materially
from those suggested by these forward-looking statements. The Company
has no obligation to provide any updates to these forward-looking
statements even if its expectations change. Further information on
potential factors, risks and uncertainties that could affect operating
and financial results is included in the Company’s Form 10-K for the
year ended December 31, 2017, and subsequent Forms 10-Q, including in
each case under the heading risk factors, and in the Company’s other
filings with the SEC. The information in this press release should be
read in conjunction with a review of the Company’s filings with the SEC
including the information in the Company’s Form 10-K for the year ended
December 31, 2017, and subsequent Forms 10-Q, under the heading
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS.

Contacts

Media: Sue Maynard — 336-436-8263
Media@LabCorp.com

Investors: Scott Frommer — 336-436-5076
Investor@LabCorp.com