Labcorp to Acquire Myriad Autoimmune's Vectra Testing Business from Myriad Genetics
BURLINGTON, N.C. – May 3, 2021– Labcorp (NYSE: LH), a leading global life sciences company, today announced that it has entered into a definitive agreement to acquire select operating assets and intellectual property (IP) from Myriad Genetics’ autoimmune business unit, including the Vectra® rheumatoid arthritis (RA) assay. More than one million Vectra tests have been completed since the product’s launch in November 2010, and a meaningful portion of testing volume currently flows through Labcorp.
“Labcorp has consistently been a major player in rheumatology and continues to focus on providing medical professionals with the data they need to best treat their RA patients,” said Brian Caveney, M.D., chief medical officer and president of Labcorp Diagnostics. “The addition of the Vectra testing capabilities to our in-house products offers tremendous potential for us to expand the test’s availability and make Labcorp a single-source diagnostics solution for RA providers. We look forward to welcoming the team to Labcorp.”
Vectra is a non-invasive, blood-based test that analyzes 12 biomarkers to measure RA disease activity. It combines those measures to generate an easy-to-understand score, which indicates the severity of RA inflammation and how well current treatments are working. It also can predict potential, future joint damage. This enables the 5,000 practicing rheumatologists in the U.S. to provide targeted treatment and adjust existing treatments to better manage RA symptoms.
Rheumatoid arthritis, an autoimmune disorder and one of the most common forms of arthritis, causes painful inflammation and tissue damage in the knees, wrists, and other joints. The U.S. Centers for Disease Control and Prevention project that, by 2040, roughly 26% of the country’s adult population will be living with doctor-diagnosed arthritis such as RA.
The acquisition of the Vectra test and related IP and other assets complements Labcorp’s prior business activity aimed at bolstering its scientific leadership in RA testing and treatment.
The transaction is expected to close by the end of the third quarter, subject to customary closing conditions and regulatory approvals, including under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Specific terms of the transaction were not disclosed. Hogan Lovells acted as legal advisor to Labcorp.