Founded in 1968 as Environmental Sciences Corporation, Covance has grown to become one of the largest Contract Research Organizations in the world. Covance has more than 11,000 employees working in about 60 countries. They provide a wide range of integrated product development services to the pharmaceutical, biotechnology and medical devices industries. In 2012, Covance was involved in the development 32 of 39 drugs approved by the FDA that year. Covance was purchased in November 2014 by Labcorp for $6.1B and officially became a unit of Labcorp in February 2015.
Covance has the scalability and scope of services to handle even the largest pharmaceutical clients as evidenced by the 2011 establishment of a strategic relationship with Sanofi. The 10-year $2.2B alliance was up to that time the largest ever research and development outsourcing agreement. Covance als has significant experience with emerging and mid-size Pharma. Our panel viewed Covance as.................................
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