Covance Adds Orbitrap(TM) to ADME Capabilities
— Becomes First CRO with Latest Mass Spectrometer Technology —
Harrogate, UK, November 6, 2006 — Covance (NYSE: CVD) becomes the first CRO to acquire the latest mass spectrometer technology: the Thermo LTQ Orbitrap(TM).
Orbitrap is fast becoming a new standard for qualitative mass spectrometry that enables faster, more sensitive and more reliable detection and identification of compounds in complex mixtures. Its accurate mass MS/MS capabilities support small molecule metabolite profiling and identification studies. And with superior mass resolution and reliable high sensitivity MSn performance, the Orbitrap is a clear alternative to existing hybrid Time-of Flight systems.
"The acquisition of the Orbitrap is an important step in enhancing our analytical capabilities, enabling us to respond more effectively to the constantly changing scientific and regulatory requirements of the pharmaceutical industry and the pressures they place upon our clients," says John Maltas, Vice President of DMPK, Europe.
The Orbitrap offers a number of significant benefits such as speed, efficiency and flexibility. It produces accurate mass data on drugs and metabolites in almost half the time, and facilitates metabolism evaluation of a drug candidate at a much earlier stage of the development process.
Orbitrap also unlocks potentially information rich samples available from in vitro and in vivo studies using non-radiolabeled material. Such samples, for instance, as are available from toxicology and First-in-Human studies. This approach addresses increasing pressure on the pharmaceutical industry to identify, during the drug development process, differences in metabolism between animals and humans as early as possible, as outlined in the Food and Drug Administration's Draft Guidance for Industry, Safety Testing of Drug Metabolites (http://www.fda.gov/cder/guidance/index.htm).
For more information on Covance's metabolism capabilities and its use of Orbitrap, please call +1.888.COVANCE.
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.
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