Covance Relocates Research Facility In Honolulu
— Consolidated site provides access to key Asian population for bridge studies —
Honolulu, November 9, 2006 — Covance (NYSE: CVD) one of the world's largest drug development services companies, has relocated its Honolulu clinical research facility, the company announced today. The move is the second of three clinic relocations in 2006 intended to streamline performance and enhance services offered by the former Radiant Research, Inc. sites, which Covance acquired earlier this year. The new state-of-the-art facility provides pharmaceutical developers with access to a significant Asian population for Phase I and Japanese bridge studies.
"The new Honolulu clinic is a top-tier research facility, able to conduct a wide range of clinical trials, including early phase clinical studies. It is also one of the few sites in the world able to recruit and conduct ethnic bridging studies in the Asian population, providing important pharmacokinetic comparisons between Caucasians and Asians," says Mark Jacobs, Pharm.D., Site Director for Covance Honolulu. "The studies we do examine how the different aspects of Asian culture, including diet and heredity, impact metabolism and the side effect profile of new medicines." With more than 20,000 people of Japanese, Chinese and Korean descent in its participant registry, the Honolulu clinic is an industry leader in helping pharmaceutical and biotech companies prove their drugs are safe and effective in these populations.
Located at One Waterfront Plaza, 500 Ala Moana Blvd, Ste. 400, the new location features 50 beds; 12 of which are in a special monitoring ward that is equipped for telemetry. The facility conducts dose escalation, 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 Honolulu is also one of only a few CROs that have conducted microdose studies.
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 20 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.