Illumina Inc. (NASDAQ:ILMN) is one of the 8 Best Quality Stocks to Buy According to Hedge Funds. Illumina Inc. (NASDAQ:ILMN) is one of the best quality stocks to buy according to hedge funds. On March 18, Illumina and Labcorp (NYSE:LH) announced an expanded collaboration aimed at increasing global access to precision oncology through next-generation sequencing/NGS solutions. The partnership focuses on several key areas, including the development of new in vitro diagnostic/IVD tests for whole-genome sequencing and comprehensive genomic profiling/CGP.
A central part of the agreement involves the co-commercialization of Labcorp’s FDA-authorized liquid biopsy assay, PGDx elio plasma focus Dx, alongside Illumina Inc.’s (NASDAQ:ILMN) FDA-approved TruSight Oncology Comprehensive. This joint offering is intended to provide healthcare providers with distributed tools for both tissue and liquid biopsy testing, facilitating the identification of patients eligible for targeted treatments and clinical trials.
Furthermore, the collaboration provides pharmaceutical companies with specialized opportunities for developing companion diagnostics for both types of biopsies. The two companies also plan to continue generating clinical evidence to support broader payer coverage and the adoption of CGP. They recently published a joint study in Frontiers of Oncology involving over 7,600 lung cancer samples, which showed that CGP could detect actionable variants in 72% of patient tumors.
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Illumina Inc. (NASDAQ:ILMN) is a life sciences company that develops and produces tools and systems for genomic research. It provides a variety of tools and services, such as sequencing platforms and microarrays, that allow clinicians to evaluate genetic data and make discoveries.
Labcorp Holdings Inc. (NYSE:LH) is a diagnostics & research company that operates through two segments: Diagnostics Laboratories and Biopharma Laboratory Services. The company provides comprehensive clinical and specialty diagnostic testing, digital pathology solutions, and AI-enabled healthcare tools.
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