PKI - PerkinElmer announces end to lab contract in California as COVID-19 cases fall

PerkinElmer (NYSE:PKI) disclosed on Friday that the California Department of Public Health (CDPH) has decided to terminate its contract with the life sciences company for the supply and operation of the Valencia Branch Laboratory. The CDPH has made the decision in light of the current decline in COVID cases and the related need for testing, the company said. Accordingly, PerkinElmer (PKI) will end the operation of the Valencia Branch Laboratory for CDPH with effect from May 15, 2022. However, the company reiterated its previously issued COVID-related revenue forecast of at least $400 million for 2022.

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PerkinElmer announces end to lab contract in California as COVID-19 cases fall