Sequenom and Quest Diagnostics announce collaboration agreement Sequenom (SQNM) and Quest Diagnostics (DGX) announced an agreement under which Quest will offer national access to Sequenom Laboratories' MaterniT21 PLUS laboratory-developed test. Using a maternal blood sample, the noninvasive prenatal test analyzes chromosomal material in cell-free fetal DNA of pregnant women at increased risk for fetal chromosomal abnormalities. Quest expects to begin offering access to the test in the third quarter. In addition, Quest has formed a license agreement with Sequenom for certain NIPT patents and patent applications. The license agreement is the first formed by Sequenom with a commercial lab in the United States. Quest intends to use the intellectual property for the purposes of developing and validating its own proprietary lab-developed NIPT test. Quest expects to introduce this new offering in 2015. Additional terms of the agreement were not disclosed.
LabCorp downgraded to Hold from Buy at Deutsche Bank Deutsche Bank downgraded LabCorp (LH) to Hold saying revenue synergies from the Covance (CVD) acquisition are "hard to envision." The firm believes LabCorp is now less of a pure play in the Clinical Labs space and lowered its price target for shares to $115 from $120. Deutsche coupled the downgrade with an upgrade of peer Quest (DGX).