Life sciences company LabCorp on Monday announced it had acquired Sciformix, a scientific process outsourcing company. According to a press release, Sciformix will merge with LabCorp’s drug development branch, Covance.
“This acquisition strengthens our position in the later phases of drug and device development, particularly for post-marketing pharmacovigilance and market access solutions,” LabCorp Chairman and CEO David King said in a statement. “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.”
LabCrop through its acquisition of Sciformix will be able to boost post-marketing safety and risk management, clinical development support services and real-world evidence solutions.
“Our complementary offerings add depth and breadth to each company’s capabilities, creating an exciting opportunity to offer customers an enhanced range of comprehensive services by a single company,” former president and CEO of Sciformix Manish Soman said in a statement.
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