Covance and WuXi PharmaTech to Form a Joint Venture to Provide World-Class Preclinical Service...(anufacturing servicesthroughout the drug...)

About Covance

Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with annual revenues greater than $1.5 billion, global operations in more than 20 countries, and more than 8,900 employees worldwide. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through its website at http://www.covance.com.

Statements contained in this press release, which are not historical facts, such as statements about the nature, scope and timing and benefits of the planned joint venture as well as the attractiveness of China for delivering outsourced discovery and development services, the growth of the China market and advantages of conducting preclinical research and development in China are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including the statements contained herein are based largely on Covance and WuXi PharmaTech management's expectations and actual results could vary significantly. The memorandum of understanding is non-binding and subject to negotiation of definitive documentation. The nature, scope and timing of the venture could change and definitive arrangements may not be agreed to by the parties. Success of the venture and the attractiveness of China, including for delivering outsourced discovery and development services, are subject to other risks and uncertainties including, without limitation, co
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