Princeton, NJ and Indianapolis, IN, January 17, 2005
— Covance Inc. ( NYSE: CVD
) today announced new capabilities for its LabLink near real-time web-based tool for monitoring clinical trial laboratory test results. LabLink provides Covance Central Laboratory Services clients with the most current specimen analysis information available. Covance clients use LabLink to review and download protocol-specific data, and to monitor patient enrollment, protocol compliance, and safety trends.
Available immediately, the new LabLink release includes on-line monitoring and reporting of sponsors' microbiology and genomic laboratory test data, as well as the ability to track the receipt of specimen containers as they are shipped to Covance's central laboratories. The new release also provides faster and easier data search capabilities — with intuitive short cuts to specific visit, patient, or investigator information, together with customized reporting capabilities.
A recent Covance survey of LabLink users in pharmaceutical companies sponsoring clinical studies showed a spectrum of users spanning clinical trial medical professionals, clinical research associates, project managers, study leaders and data managers. "Our users told us that LabLink delivers on three dimensions impacting study quality — time, cost, and safety," said Larry Cuzzort, Vice President of Global Information Technology at Covance Central Laboratory Services. "LabLink helps them save time, by cutting down on phone calls, faxes and work steps. It saves them money by helping them reduce internal data management resources. In addition, pharmaceutical companies receive data results faster than waiting for data from traditional systems. It also helps them identify patient safety issues sooner."
LabLink is available worldwide to any pharmaceutical firm using Covance Central Laboratory Services. Launched in February 2001, the LabLink system currently has over 6,000 registered users in six continents monitoring activity on over 3,000 clinical trials.
Additional LabLink usability enhancements include help resources in multiple formats — a searchable and printable on-line manual, as well as a 'hover help' feature on each LabLink page to assist users in using and navigating the system. Finally, to support the new version of LabLink, Covance has introduced instructor-lead web-based training for LabLink users.
Clinical medical professionals use LabLink for a variety of study-related tasks including compiling patient listings and history, monitoring laboratory results and checking the status of investigator sites, patient enrollment and test kits. They also use the system to help ensure patient safety during studies — in particular, they value the ability to look for trends, adverse reactions and abnormal results that might indicate a safety problem. As one current medical manager explained, "LabLink gives you up-to-date data that is critical to your study. If something is overlooked, it could harm a human being."
Clinical project managers, study leaders and research associates use LabLink to track the overall progress of a study, to plan timelines and make budgetary decisions. "I look at overall trends, to see how many patients are enrolling over a given time-frame," said an international study manager. "That is a huge cost driver and can help with expenditures from a budgeting standpoint."
For more information on LabLink, please visit the Covance web site at www.covance.com/lablink
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 6,600 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, 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 and "Covance Virtual Central Laboratory" and LabLink are service marks of Covance in the United States and other countries