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COVANCE LAUNCHES StudyTracker® VERSION 2
Enhances drug safety evaluation by including bioanalytical and metabolism data access |
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Princeton, New Jersey, April 16, 2003 — Covance Inc. (NYSE: CVD) announced today the release of StudyTracker® Version 2. Launched worldwide in 2001, StudyTracker was the first secure system to allow pharmaceutical and biotechnology clients to monitor their toxicology studies in near real-time via the Internet. The new version includes bioanalytical, metabolism, and reproductive and developmental toxicology data in addition to schedules and reference information. These enhancements make it easier for users to access more data in near real-time enabling them to potentially reduce the timelines of drug development.
"With more than 500 users at 100 companies, the acceptance of StudyTracker has been overwhelmingly positive," said Wendel Barr, President of Early Development North America at Covance. "Clients' responses have definitely underscored the ease-of-use, immediate access to study data, and the ability to exchange files securely. Significant time savings are achieved through "on-demand" access to study information that allows the study to be closely monitored with the needed level of detail. Overall StudyTracker allows our customers to save time, have more control, and make decisions faster."
StudyTracker provides Covance clients with: |
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- The ability to view all of their critical data "24/7" via the Internet from virtually anywhere in the world.
- The highest level of Internet security available on a worldwide basis through a series of firewalls, strong SecurID user authentication, and 128-bit encryption.
- Rapid, secure access to more drug development data and information.
- A new level of efficiency to managing projects, ultimately speeding "go/no-go" decisions.
- Comprehensive data to make critical assessments that allow clients to move forward with promising drug candidates more quickly.
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"Our goal is to continuously enhance StudyTracker to bring even higher levels of efficiency to global nonclinical drug development projects," added Tony Cork, President of Early Development Europe at Covance. "We are launching StudyTracker Version 2 to help make that goal a reality. The addition of near real-time access for bioanalytical and metabolism data and information is a direct response to our customers' requests. Covance customers will be able to rapidly channel important scientific data to aid them in their commercial decision-making processes, as if we were the laboratory located just down the hall."
Covance has completed more than 150 integrated drug development projects and leads the industry in IND-enabling services. StudyTracker allows our pharmaceutical and biotechnology sponsors to utilize our cross-functional scientific and regulatory expertise at several sites to fast track their products out of discovery and into clinical proof of concept.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with 2002 net revenues of $883 million, global operations in 17 countries, and approximately 6,900 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, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth and other financial results 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 including factors described in the Company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. All information in this release is as of April 16, 2003. The Company undertakes no duty to update any forward looking statement to conform the statement to actual results or changes in the Company's expectations. |
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