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Covance

Sanofi revenues expected to boost 2011 results

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Covance 4Q10

4Q Revenues: $492 million (+1%)

4Q Earnings: $28 million (-32%)

FY Revenues: $1.9 billion (+3%)

FY Earnings: $68 million (-61%)

Comments: Early development revenues grew 9% to $221 million, driven by added revenue from the company’s new facilities, acquired in the strategic pact with Sanofi-Aventis; FY10 revenues for the unit were up 6% to $840 million. Late stage development revenues dropped 4% in 4Q10 due to cancellations, delays and other factors; FY10 revenues were +1% ($1.1 billion).

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