Covance Expands Biotechnology Services into North America
Covance Expands World Class Biotechnology Services into North America, Doubling its Global Footprint
-- New 40,000-sq. ft. laboratory strengthens and speeds biotechnology solutions for global biopharmaceutical clients
PRINCETON, NJ - September 29, 2010 - Covance Inc. (NYSE: CVD), one of the world's largest and most comprehensive drug development services companies, today announced the expansion of its biotechnology offerings into North America with the opening of a biotechnology services facility on its Greenfield campus in Indiana. This facility will leverage the expertise developed and offered by Covance in the U.K. for more than 20 years,
Earlier this year, Eli Lilly and Covance expanded their relationship with a three-year biotechnology services agreement, in which Lilly transferred bioproduct analytical testing to Covance. The Greenfield biotechnology services facility includes state-of-the-art analytical laboratories for protein chemistry, immunocharacterization, bioassay, stability studies, and release testing services. This facility has more than doubled Covance's global biotechnology services footprint and it continues to expand. Covance is currently providing biotechnology services to Lilly as well as second major pharmaceutical client at the Greenfield site and is now accepting work from other clients.
Covance has provided biotechnology services at for the past 20 years at its Harrogate U.K. site. Over the last year alone, its industry-leading scientific and regulatory experts have supported more than 250 different biomolecules. This experience, coupled with the addition of top scientific, regulatory and operational talent, enabled Covance to quickly begin operations at the Greenfield facility. Covance has worked with more than 100 biopharmaceutical clients globally.
"The expansion of our high-quality biotechnology services from Europe to North America is a critical milestone for Covance to meet the growing biopharmaceutical development needs from our clients," said Carl Martin, Vice President, Biotechnology , Covance. "With a dedicated team of experts in biological development and commercialization, and an unwavering commitment to operational and service excellence, Covance strives to provide clients with optimal solutions to bring their biotherapeutics to market."
As a leading contract service provider to the global biopharmaceutical industry, Covance offers a comprehensive portfolio of biotechnology services that include cGMP cell bank production and storage, biosafety testing, viral clearance services, gene therapy fate studies, product characterization, bioassay studies, cGMP batch release support, ICH stability testing, and immunochemistry support (TK, PK and immunogenicity analysis). Covance also provides the complementary discovery, nonclinical, and clinical services required for full development of a biopharmaceutical product.
About 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 $1.8 billion, global operations in more than 30 countries, and more than 10,000 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