Covance Increases Stability Chamber Capacity
Madison, Wisconsin, October 24, 2005 — Covance Inc. ( NYSE: CVD ), a leading provider of cGMP analytical testing services, has added three new, fully validated walk-in stability chambers. This increases the number of validated walk-in chambers to nine, giving Covance a total of 15,000 cubic feet of stability testing capacity. In addition to the standard ICH storage conditions, Covance provides specialty conditions to meet customer-specific requirements.
All storage conditions are monitored continuously using Metasys from Johnson Controls with a redundant Rees system. Monitoring systems are FDA, cGMP and 21 CFR Part 11 compliant. In addition, Covance uses specialized equipment required for ICH Option 2 photostability evaluation.
Covance provides comprehensive cGMP and ICH-compliant stability programs to support the development and manufacturing of clinical trial supplies and commercial products in strict accordance with regulatory guidelines. Covance has symbolized scientific excellence in contract research for more than 50 years, and has been providing stability services for 15 years.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with annual revenues greater than $1 billion, global operations in 18 countries, and more than 7,000 employees worldwide. Information on Covance's products and services, recent press releases , and SEC filings can be obtained through the Covance website.
Statements contained in this press release, which are not historical facts, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including the statements contained herein regarding anticipated trends in the Company's business are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, levels of industry research and development spending, the Company's ability to continue to attract and retain qualified personnel, the fixed price nature of contracts or the loss of large contracts, and other factors described in the Company's filings with the Securities and Exchange Commission.
Covance and the Covance logo are registered service marks of Covance in the United States and other countries.