Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Financial Reports: Covance 1Q | Contract Pharma

What are you searching for?

Sign in
Breaking News, Financial News

Financial Reports: Covance 1Q

Early Development slowdown leads to restructuring

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

Covance 1Q12

1Q Revenues: $531 million (+7%)

1Q Earnings: $36 million (+9%)

Comments: Early Development Services dropped 6% to $212 million due to lower than expected volumes in box and discovery support services, while Late-Stage Development was up 15% to $319 million with a 25% growth in clinical development and 4% uptick in central laboratory services. The company announced plans to close a facility in Chandler, AZ and engage in other Early Development restructurings to improve earnings by $20 million. Tox room capacities will drop to 2007 levels. The company is considering further cost cuts if the Early Development situation doesn’t improve.

Add us as a preferred source on Google

Get the latest Contract Pharma news, insights and analysis in your Google Search and AI experiences.

Add Contract Pharma as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters

Topics