Covance’s Studytracker System Passes 1,000 User Milestone
|Industry's first online study management system now in use by 95% of top 20 pharmaceutical companies|
|Princeton, NJ, June 28, 2004 — Covance Inc. (NYSE: CVD) today announced that StudyTracker®, the company's Internet-based monitoring system for nonclinical study data, recently passed the 1000 user milestone. Launched in March 2001, StudyTracker is the first such system to provide pharmaceutical and biotechnology firms with secure online access to their toxicology, bioanalytical and metabolism study data in near real-time.|
"Data are only useful to a client if they have access to it," said Wendel Barr, President of Early Development North America for Covance. "StudyTracker provides easier and faster access to data, which saves our clients time and money. That's why we are committed to improving StudyTracker as demand for this product continues to grow."
Tony Cork, President of Early Development Europe for Covance, added that StudyTracker is of particular value to global customers, who may need access to their data across multiple time zones. "Wherever you are around the world, you don't need to think about what time it is at the Covance laboratory performing your study, or whether you'll be able to get someone on the phone at that hour. StudyTracker is always there with your data. That's proven valuable to our clients, and will continue to drive interest in this system."
Using a standard web browser, StudyTracker users can access their data through a secure data warehouse that is populated automatically by Covance's real-time study management systems. Study data are available 24 hours a day, 7 days a week — from anywhere in the world — using highly secure, encrypted Internet access. Users can review study results, generate ad-hoc reports, and exchange files securely and confidentially with the Covance staff responsible for their studies. More information on StudyTracker can be found on Covance's web site at www.covance.com/StudyTracker.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with 2003 net revenues of $940 million, global operations in 18 countries, and approximately 6,500 employees worldwide. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through the website in the About Covance area.
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 an 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, 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, the Covance logo and StudyTracker are registered trademarks of Covance in the United States and other countries.