Covance Extends Presence in Central and Eastern Europe
— New Prague clinical development office supporting client studies in Czech Republic and Slovakia —
Princeton, NJ and Maidenhead UK, January 23, 2006 — Covance Inc. (NYSE: CVD) today announced the opening of a clinical development office in Prague, Czech Republic, further expanding its presence in Central and Eastern Europe. The new Prague office supports Covance's clinical trial operations in the Czech Republic and Slovakia. Covance has existing clinical development offices in Warsaw, Poland and Budapest, Hungary, as well as a team of field-based clinical research associates, in the 14 countries that the Company serves throughout the region. Covance has been operating in Central and Eastern Europe since 1994.
"We predicted and have seen the growth of Central and Eastern Europe as a region in which to perform clinical trials, because of its clinical trial infrastructure, suitable patient populations and medical expertise in a number and variety of indications," said Dr. Alan Wood, General Manager, Europe and Asia-Pacific for Covance Clinical and Periapproval Services. "The establishment of our third office in the region shows our commitment to developing our business to serve the needs of our clients for high-quality clinical development on a global basis."
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 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, 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, the Covance logo and StudyTracker are registered service marks of Covance in the United States and other countries.