LabCorp makes a lot of money doing routine drug te
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Posted On: 04/21/2020 6:54:28 PM
LabCorp makes a lot of money doing routine drug tests for companies and people who are court-ordered to do drug and alcohol testing. Independent doctors' offices use them too. (Big clinics usually have their own testing labs.)
I don't know what percentage of their business the home tests will be -- but think about how their OTHER business has been torpedoed. No one needs to have random drug tests when they're out of work. No one is going in for routine physicals or other routine lab work.
That said, if they can gear up production, it could be a huge income source for them. Just saying -- look into it a little more if you're planning to hold for more than just a trade.
I don't know what percentage of their business the home tests will be -- but think about how their OTHER business has been torpedoed. No one needs to have random drug tests when they're out of work. No one is going in for routine physicals or other routine lab work.
That said, if they can gear up production, it could be a huge income source for them. Just saying -- look into it a little more if you're planning to hold for more than just a trade.
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