Covance Expands Research Clinic In Daytona Beach
— New facility expands Phase I capacity —
Daytona Beach, Florida, September 22, 2006 — Covance Inc. (NYSE: CVD), one of the world's largest drug development services companies, has relocated — and significantly expanded — its Daytona Beach clinical research unit, the company announced today. The move caps a summer-long upgrade for the former Radiant Research, Inc. clinic, which Covance acquired earlier this year.
"Our new clinic is truly a top tier research facility," says Yvette Taylor, Site Director. "The new building consolidates study conduct, screening, and administration in a standalone purpose-built facility. We've also added 12 more beds, for a total of 32. This will allow us to accommodate more Phase I studies."
Located at 1900 Mason Avenue, the new location features a secure pharmacy and a six-bed intense monitoring ward that is telemetry-ready. The purpose-built clinic conducts dose escalation, dQT, pharmacokinetics, and proof of concept studies in healthy and special populations, as well as clinical trials in patients for drugs in later stages of development.
Covance's 6,000 area volunteers will also enjoy improved surroundings and amenities, including a larger lounge, big-screen televisions, and Internet service.
Covance offers early stage testing at eleven clinical sites in the United States and United Kingdom. To learn more about clinical research services at Covance, please call 888-COVANCE (888-268-2623) in the Americas; 44(0)4235-00888 in Europe; or 1-65-65677333 in Asia.
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 17 countries, and approximately 8,000 employees worldwide. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through its website at www.covance.com.
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.