Covance
Line
- Joseph Herring, Chairman and CEO
- William Klitgaard, SVP and CFO
Covance Inc. is a US-based contract research organization that operates primarily in the planning and conduct of clinical trials. It is one of the largest of its kind and is represented in 20 countries. The company is headquartered in Princeton, New Jersey. In Germany Covance is headquartered in Munich and Münster, where it operates one of the largest animal testing laboratories in Europe. Covance is listed on the New York Stock Exchange and there listed in the Russell 1000 Index.
Covance was created in 1997 as an offshoot of Corning Inc.. Covance Research Products Inc. subsidiary (CRP ) in Denver (Pennsylvania) developed antibodies.
History
In the late 1980s and 1990s, Corning Incorporated acquired numerous companies in the drug development process, whose origins go back partially into the 40s of last century. Covance arose when Corning Glass Works in 1977 extended the special department of Biological Sciences. During this time, Corning acquired a small stake in Hazleton Laboratories Corp.. This step led in 1987 to complete acquisition of Hazleton by Corning, and in 1989 finally to the acquisitions of the company for clinical trials GH Besselaar Associates, and in 1991 for the acquisition of SciCor Inc. Inc. These companies were under the subsidiary Corning Lab Services, merged, later Microtest, Ltd.. recorded, a center for molecular toxicology. In January 1997, Corning spun from these companies than two publicly traded independent company called Covance, Inc. and Quest Diagnostics, Inc..
Center of gravity
The company's focus is to provide services to the pharmaceutical and biotechnology industries. As part of its clinical and non-clinical development services, Covance provides testing for environmental protection, food and food supplement industry as well as custom antibody products and services for neurological disease research. Additionally it also offers cell type-specific marker antibodies for neuroscience and product ranges for both Alzheimer's and Parkinson, as well as an antibody -Online Shop with phospho-specific and secondary antibodies. Covance also offers Kommerzialisierungsdienste for pharmaceutical, biotechnology and medical device companies. Reimbursement and consulting services for health economics are provided by the separate department " market access services ", regulatory follow-up services offered by the Group on Peri - approval services. Covance's Department of Nutrition provides analytical services for dietary supplements and dietary supplements. 2009 Covance and Kellogg announced that Covance will perform analytical chemistry, microbiology and stability testing for Kellogg products, a business agreement with an estimated value of U.S. $ 42 million.
Expansion
In recent years, Covance continued to own expansion continued with the acquisition of companies in the drug development process. Above all Covance acquired in August 2005 GFI Clinical Services, a 80-bed company of Clinical Pharmacology of West Pharmaceutical Services, Inc., to extend the first phase of the company for offers in clinical research.
In May 2006, Covance also acquired Signet Laboratories, Inc., a provider of monoclonal antibodies that are used in the research of cancer, infectious diseases, and neurodegenerative diseases. On 6 August 2008, Covance acquired in Greenfield, Indiana for $ 50 million a device from the beginnings of drug development by Eli Lilly. With a $ 1.6 billion estimated contract Covance will provide services for drug development for Eli Lilly in the next 10 years. Covance will offer services to other pharmaceutical and biotechnology clients at the site Greenfield. Covance will take possession of the site and the activities on or about 1 October 2008.
Criticism
Caused a stir in late 2003 a Frontal21 broadcast by the ZDF broadcast report on the welfare of laboratory animals. The concealed researched by journalist Frederick Mülln in the laboratory Münster recordings were first broadcast on 9 December 2003. In the video was shown, among others, as employees yelling at the animals used and abused and they used to keep them entertained by them were dancing on the hands or body parts of the anesthetized animals moving in time with the music on the radio.
Covance procured in January 2004, a preliminary injunction against the broadcast, after a lengthy litigation and a public debate on freedom of the press and the legality of covert video recordings followed. Mülln could prevail ultimately and Frontal21 material may continue to be widespread.
The allegations made by Frontal21 of animal cruelty were invalidated in February 2004 by the prosecutor Münster, the procedure was terminated. There was no breach of the Animal Welfare Act are found, although some scenes of the film material must be assessed as tasteless and disrespectful to the experimental animals against loud prosecutor.