Labcorp predicts lower annual revenue growth for its contract research unit due to reduced spending from biotech clients. CEO Adam Schechter cited a funding crunch impacting early-stage drug development. Despite raising its annual profit forecast, Labcorp’s shares dropped 5.5%. The company plans to divest or restructure $50 million in revenue to address weaker demand. The company expects adjusted profit to be $16.15 to $16.50 per share in 2025.

Read more at Yahoo Finance: Labcorp cuts growth outlook for research unit as biotech funding crunch persists