New Complementary Diagnostic Test Available from LabCorp for Treatment of Bladder Cancer

VENTANA PD-L1 (SP142) Assay Identifies Metastatic Patients with
Urothelial Cancer that May Benefit from Treatment with TECENTRIQ
®
(atezolizumab)

BURLINGTON, N.C.–(BUSINESS WIRE)–Laboratory Corporation of America® Holdings (LabCorp®)
(NYSE:LH) today announced the nationwide availability of the VENTANA
PD-L1 (SP142) Assay as a complementary diagnostic for TECENTRIQ
(atezolizumab), a new immunotherapy treatment for patients with
urothelial cancer, the most common form of bladder cancer in the U.S.
The test was developed by Roche Diagnostics and was approved on May 18,
2016 by the U.S. Food and Drug Administration (FDA) to identify patients
who may benefit from treatment with Genentech’s TECENTRIQ
(atezolizumab). The availability of this important new test demonstrates
LabCorp’s commitment to provide world-class diagnostics to physicians
and their patients.

“LabCorp is dedicated to improving health and improving lives through
the introduction of new tests and by bringing innovative medicines to
patients faster,” said David P. King, LabCorp’s chairman and chief
executive officer. “LabCorp is particularly focused on the development
of immunotherapies and tests that pair with these medicines to change
the way care is provided to cancer patients, and we are pleased to be
among the first laboratories to offer the VENTANA PD-L1 (SP142) assay.”

Bladder cancer is the most common malignancy of the urinary system and
the ninth most common form of cancer worldwide. Despite urothelial
(transitional cell) cancer being the most common form of bladder cancer
in the U.S., no major new therapies have been introduced for it in the
past 30 years. The availability of TECENTRIQ in combination with the
PD-L1 (SP142) test has the potential to significantly improve the
treatment of patients diagnosed with this form of cancer. In addition to
identifying the PD-L1 protein on tumor infiltrating immune cells, the
assay also offers a novel immune cell scoring algorithm that can aid
physicians to identify patients for whom treatment with TECENTRIQ may be
the right option.

“LabCorp already offers companion diagnostic and complementary
diagnostic tests to help identify patients who may benefit from new,
targeted immunotherapies for the treatment of melanoma and lung cancer,”
said Dr. Mark Brecher, LabCorp’s chief medical officer. “The PD-L1
(SP142) assay can help change the way care is provided by helping
physicians better understand the potential benefits of treatment with
TECENTRIQ for their patients with bladder cancer.”

About LabCorp®

Laboratory Corporation of America® Holdings, an S&P 500
company, is the world’s leading healthcare diagnostics company,
providing comprehensive clinical laboratory services through LabCorp
Diagnostics, and end-to-end drug development support through Covance
Drug Development. LabCorp is a pioneer in commercializing new diagnostic
technologies and is improving people’s health by delivering the
combination of world-class diagnostics, drug development services and
technology-enabled solutions. With net revenue in excess of $8.5 billion
in 2015 and more than 50,000 employees in approximately 60 countries,
LabCorp offers innovative solutions to healthcare stakeholders. LabCorp
clients include physicians, patients and consumers, biopharmaceutical
companies, government agencies, managed care organizations, hospitals,
and clinical labs. To learn more about Covance Drug Development, visit www.covance.com.
To learn more about LabCorp and LabCorp Diagnostics, visit www.labcorp.com.

This press release contains forward-looking statements including with
respect to estimated 2016 guidance and the impact of various factors on
operating results. Each of the forward-looking statements is subject to
change based on various important factors, including without limitation,
competitive actions in the marketplace, adverse actions of governmental
and other third-party payers and the results from the Company’s
acquisition of Covance.
Actual results could differ materially
from those suggested by these forward-looking statements. Further
information on potential factors that could affect LabCorp’s operating
and financial results is included in the Company’s Form 10-K for the
year ended December 31, 2015, and subsequent Forms 10-Q, including in
each case under the heading risk factors, and in the Company’s other
filings with the SEC, as well as in the risk factors included in
Covance’s 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, 2015, and subsequent Forms 10-Q,
under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS.

Contacts

Laboratory Corporation of America® Holdings
Investors:
Paul
Surdez, 336-436-5076
Investor@labcorp.com
or
Media:
Pattie
Kushner, 336-436-8263
Media@labcorp.com