| COVANCE OPENS NEW OFFICE IN CANADA |
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Montreal, February 3, 1997 — Drug development company will market broad range of services to burgeoning Canadian biopharmaceutical industry.
Covance Inc, formerly Corning Pharmaceutical Services Inc., today announced that it has opened an office in Montreal, Canada. Under the leadership of Richard Lacombe, Ph.D., MBA, Managing Director, Covance (Canada) Inc. will offer a full range of clinical and periapproval services to pharmaceutical, biotechnology, and medical device firms in Canada.
According to the Pharmaceutical Manufacturers Association of Canada (PMAC), sales of pharmaceutical products to Canadian hospitals and pharmacies totaled nearly $6 billion in 1995. In addition, PMAC companies have pledged to continue to spend 10 percent of annual revenues on research and development activities.
"Canada's pharmaceutical companies are an important part of global R&D spending," said Chris Kuebler, Chairman of the Board and CEO of Covance. "Covance (Canada) will offer high quality services that are sought by all of today's large multinational biopharmaceutical firms, as well as the experience of prominent industry experts such as Dr. Lacombe."
Dr. Lacombe has more than 20 years of experience in pharmaceutical development. Before joining Covance, Dr. Lacombe served as Senior Director, Clinical Investigation, for Phoenix International Life Sciences Inc., one of Canada's largest CROs. Previously, he held a variety of directorships in clinical research and regulatory affairs at Hoechst-Roussel Canada Inc., where he served as Medical Director, and Cyanamid Canada Inc. Dr. Lacombe received a Doctorate degree in Pharmacology from the Universite de Montreal, and a Master of Business Administration degree from the Universite de Sherbrooke.
"Covance is an exciting place to be, especially during this period of growth in the Canadian biopharmaceutical industry," said Dr. Lacombe. "Through our new office in the West Island section of Montreal, Covance will be able to link more customers with our worldwide network of biopharmaceutical development experts and the targeted, individualized services for which Covance is known."
Covance, with headquarters in Princeton, NJ, is one of the world's largest and most comprehensive biopharmaceutical development service companies, with 1996 revenues of approximately $495 million, operations in more than 15 countries, and more than 5,000 employees worldwide. Covance combines superior development experience, expertise and global presence to provide preclinical, health economics, central laboratory, biomanufacturing, clinical packaging, and clinical and periapproval services to the world's pharmaceutical, biotechnology and medical device companies. |
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