Covance Expands Analytical and Stability Service Capacity in North America
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— Covance Doubles Service Capacity to Provide Integrated Discovery, Preclinical, and Clinical Development Support for Large-Scale Stability and Release Programs —
PRINCETON, NJ, June 29, 2009 — Covance Inc. today announced the expansion of the company's analytical and stability services facility in Madison, Wisconsin. The expanded facility doubles service capacity for large-scale, long-term stability and release programs supporting preclinical, clinical, and chemistry, manufacturing, and control (CMC) development of pharmaceutical and animal health products.
"Covance is committed to providing world-class CMC analytical services for our clients to provide the highest quality data and reduce developments timelines," said Henry Hummel, vice president and general manager, Madison sites, Covance. "Together with our integrated discovery, preclinical, and clinical service offerings and dedicated program management team, we can now offer CMC analytical services as part of an entire molecule development program."
The expanded facility includes upgraded stability chambers equipped with high-density tracked shelving to significantly increase pharmaceutical analysis service capacity and utilization. Designed to house up to ten walk-in chambers and several reach-in chambers, the facility also provides space to accommodate future expansion.
As a leading contract service provider to the global pharmaceutical and animal health industry, Covance offers a comprehensive portfolio of CMC analytical services, including analytical method development, validation and transfer, stability, and product release testing. Covance also offers expertise in inhalation, extractables and leachables, and nitrosamine testing.
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 $1.7 billion, global operations in more than 25 countries, and more than 9,800 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 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.