COVANCE EXPANDS CLINICAL TRIAL SERVICES TO SOUTH AFRICA
New Alliance Helps Accelerate Development of Treatments for Infectious Diseases |
|
Princeton, New Jersey, October 19, 1998 — Covance Inc. (NYSE: CVD) announced today that it has formed an alliance with Clindev, a leading South African-based healthcare company, to offer clinical trials services in South Africa. This collaboration further expands the company's drug development capabilities in the region, adding to its central laboratory services in Capetown, South Africa.
Southern Africa offers major pharmaceutical companies, particularly those investing in infectious diseases research, access to a large patient population in need of medical treatment. With an estimated research and development expenditure of more than $2.3 billion* in 1996, infectious diseases represent one of the leading areas of pharmaceutical investment.
"This collaboration strengthens our presence on the African continent, as well as helps us continue to expand our global network of drug development services," said Chris Kuebler, Chairman and CEO of Covance. "Together we will be able to offer a broader range of capabilities to our pharmaceutical clients interested in conducting clinical trials in this region of the world."
Southern Africa is also one of the few regions on the African continent where the standards of good clinical practice are routinely followed, offering a regulated environment for clinical testing. Due to this region's "opposite seasonality," products with seasonal indications (such as allergy medications) can be tested in Southern Africa when they can not be tested in the Northern Hemisphere. This reduces the total amount of development time required, and ultimately, saves pharmaceutical companies money.
"Covance chose to form this alliance with Clindev because of our reputation as clinical trial experts in South Africa," says Anita Lessing, president of Clindev. "We expect that this collaboration will help us share technologies, as well as the relationships we have built with world-class investigators and regulatory bodies across Southern Africa."
Clindev has conducted numerous clinical trials in the past year with some of the world's largest pharmaceutical companies. These multi-national clinical trials have been conducted in key therapeutic areas including anti-infectives, central nervous system disorders, cardiology and endocrinology. The office will be located at 563 Dwyka Street, Erasmuskloof, Pretoria, Republic of South Africa. The telephone number is 27.12.347.0367.
Covance, with headquarters in Princeton, NJ, is one of the world's largest and most comprehensive contract drug development companies with 1997 revenues of approximately $590 million, operations currently in 17 countries, and more than 6,600 employees worldwide. Covance's purpose is to lead advancements in drug development through science, service, and shaping solutions.
* Includes US Research and Development (R & D) spending in the US, foreign spending in the US and US spending abroad. |
|
|
