U.S. LabCorp to acquire Ennvigo’s nonclinical research business for $485 mln

U.S.-based testing laboratories company LabCorp has recently announced deals with Envigo, a UK-based company that provides research services, models and products for pharmaceutical companies, that expand its drug development capabilities globally.

Under the deals, LabCorp's Covance Drug Development business will buy Envigo’s nonclinical research services business, while Envigo’s Research Models Services business will acquire the Covance Research Products business.

LabCorp will acquire Envigo's business for $485 million and the deals are expected to increase the number of people employed by the company.

In 2017, LabCorp bought California-based dietary supplement and food ingredient companyChromaDex.