Diagnostic Giants Labcorp, Roche To Ramp Up Testing Capacity Amid Global Concerns Over New Mpox Strain

Author: Vandana Singh | August 26, 2024 01:36pm

Labcorp Holdings Inc (NYSE:LH) is reportedly collaborating with U.S. health regulators to determine whether it should scale up its mpox testing capabilities, following global concerns over a newly detected virus strain outside Africa.

According to Marcia Eisenberg, the company's chief scientific officer, Labcorp currently processes around 500 mpox tests monthly but can ramp up to 25,000 if necessary, Reuters noted, citing an emailed statement.

Also Read: Mpox Vaccine Maker Bavarian Nordic Targets Broader Access With European Submission For Imvanex Adolescent Use During WHO Emergency.

The company recently received U.S. clearance for a home collection kit that doctors can order for patients aged 18 and older who are suspected of having mpox.

The clade Ib variant, previously found in the Democratic Republic of Congo and surrounding regions, has been detected in countries like Sweden and Thailand.

Labcorp, which produces a PCR test to detect mpox, is among several companies working on enhancing mpox testing infrastructure. Roche Holdings AG (OTC:RHHBY) stated it is also monitoring global demand and exploring ways to leverage existing HIV testing infrastructure for mpox and other diseases in collaboration with African regulators.

Roche emphasized that its production capacities are designed to adapt to fluctuating global needs.

Other major diagnostics companies are also involved. Quest Diagnostics Inc (NYSE:DGX) offers mpox testing services, while Abbott Laboratories (NYSE:ABT) has developed the Alinity m test kit, which is authorized for emergency use in the U.S. as part of the ongoing response to the mpox outbreak.

Reuters also noted that Germany would donate 100,000 mpox vaccine doses from its military reserves to support efforts in containing the outbreak in Africa, a government spokesperson announced on Monday.

The government also plans to provide the World Health Organization with flexible funding to fight the virus and will back African partners through the GAVI vaccination alliance.

Germany currently holds around 117,000 doses of the Bavarian Nordic A/S (OTC:BVNRY) (OTC:BVNKF) Jynneos vaccine, initially acquired for military stockpiling in 2022.

Price Action: LH stock is up 0.29% at $231.56 at last check Monday.

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