LabCorp 2010 Annual Report Download - page 6

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4
BRING INNOVATION TO THE MARKET AT REASONABLE PRICES
In 2010, we began an 110,000-square-foot addition to the Powell Center for Esoteric Testing
in Burlington, North Carolina. When we complete this project in 2011, we will have a state-of-
the-art facility to continue our leadership in development and performance of esoteric testing.
We excelled in scientific innovation in 2010. LabCorp became the only national laboratory to
offer IL28B testing for responsiveness to Interferon in Hepatitis C patients; Hepatitis C infects
an estimated 4 million people in the U.S. and 170 million worldwide. We introduced five other
new assays from Monogram alone, including GenoSure MG, a lower-cost, faster genotypic
resistance assay that uses Monogram’s algorithm to correlate HIV genotype and phenotype.
Our scientists also authored over 100 abstracts for presentation in scientific meetings and
over 65 peer-reviewed journal publications.
I am very proud of LabCorp’s first Virology Report, which can be accessed at
https://www.labcorp.com/wps/portal/research/virology. Through a tremendous effort from
our science team, we produced a report that is without peer in the field of virology and will
assist clinicians, scientists, and public health officials in understanding infectious diseases
and treating patients optimally.
POSITIONED FOR GROWTH IN A CHANGING HEALTH CARE MARKETPLACE
In summary, 2010 was a year of achievement. It is gratifying that investors took notice of
our success: our share price rose 17.5 percent during the year, creating nearly $1.5 billion in
additional shareholder value. With excellent financial stability, a steady record of growing revenue
and earnings, and unmatched scientific leadership that delivers increasing value to our
customers, LabCorp will continue to Build Forward. In doing so, we remain deeply grateful
for the efforts of our more than 31,000 employees – simply put, we could not do it without
them. We are also grateful for your continued support and for the trust and loyalty of the
millions of physicians and patients whom we are privileged to serve.
Very truly yours,
Dave King
Chairman and Chief Executive Officer
Efficient
Well-Positioned
Tenacious