| COVANCE OPENS FULL-SERVICE CLINICAL DEVELOPMENT OFFICE IN WARSAW, POLAND |
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Princeton, N.J., July 12, 2001 — Covance Inc. (NYSE: CVD) today announced the opening of a full service Clinical Development office in Warsaw, Poland to support the increasing number of clinical studies being conducted throughout Eastern Europe.
The number of clinical trials conducted in Eastern Europe has more than doubled over the last decade. The region offers drug developers access to well-trained, multi-lingual physicians who are familiar with FDA and EMEA medical protocols, as well as large numbers of previously untreated patients who are in need of medical treatment.
"Opening this office enables Covance to more efficiently and cost-effectively conduct clinical trials in Eastern Europe for our pharmaceutical customers. There is strong demand for high quality contract research services and medical treatment in this part of the world. Covance will now be well positioned to participate in this growth market," said Alan Horgan, President of Covance's Phase II/III Clinical Development unit.
Covance has maintained a limited presence in Poland since 1997. With its experienced clinical research staff that includes nine MDs and three PhDs, Covance has already conducted more than 38 studies in the region in therapeutic areas such as cardiology, gastroenterology, oncology, neurology, rheumatology, psychiatry, pulmonology, and urology. Covance also has experienced clinical research field-based staff in a number of locations throughout Eastern Europe, including Poland, Hungary, and the Czech and Slovak Republics.
The new office is located in the central business district at 47/49 Wspolna Street.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with 2000 pro forma revenues of $737 million, operations currently in 17 countries, and approximately 7,000 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 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, 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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