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Financial Report: Covance

Late-Stage revenues up 8% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Covance

1Q Revenues: $666.3 million (+5%)

1Q Earnings: $50.8 million (+6%)

Comments: Late-Stage Development revenues were up 8% to $402 million in the quarter. Central labs and clinical development were up 11% and 6%, respectively, offsetting a decline in market access services. Early Development revenue was up 5% to $218 million, with growth in clinical pharmacology, research products, and nutritional chemistry offsetting the sale of the Seattle genomics lab and declines in toxicology and discovery support. 

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