Navigation Links
Covance to Sell Its Interactive Voice and Web Response Services and Enter Into a Multi-Year Marketing Agreement with Phase Forward

PRINCETON, N.J., July 15 /PRNewswire-FirstCall/ -- Covance Inc. (NYSE: CVD) today announced it has signed an agreement to sell its Interactive Voice & Web Response Services (IVRS/IWRS) business to Phase Forward (Nasdaq: PFWD). In addition, Covance and Phase Forward have agreed to enter into a multi-year marketing agreement to provide Phase Forward's electronic data capture solutions and IVR/IWR services to Covance clients for the next five years. Covance expects the sale, which is subject to certain closing conditions, to be completed by the end of August.

In addition, Covance intends to collaborate with Phase Forward on technology that is used in the management and oversight of clinical trials such as electronic data capture, bedside data capture, electronic diaries, and other enabling technologies that have the potential to improve the efficiency of the drug development process.

"Covance remains fully committed to providing our clients with integrated drug development solutions, including advanced technology for supporting clinical trials," said Joe Herring, chairman and CEO of Covance. "We are delighted to broaden our relationship with Phase Forward, our preferred provider of EDC software for clinical trials, to include market leading IVRS/IWRS technology for clinical trials. We believe our clients will benefit from Phase Forward's industry-leading integrated data management platform and Covance's integrated clinical trial solutions. The transaction also allows Covance's management team to focus more attention and investments on growing our service offerings in the larger markets we serve."

"Covance and Phase Forward are committed to working together to deliver best-of-class solutions to our clinical trial customers," said Bob Weiler, chairman, president and chief executive officer of Phase Forward. "Covance has been a pioneering leader in the IVRS/IWRS market and we look forward to building upon their success. We are also delighted to solidify our long-term strategic relationship with one of the world's leading and most successful CROs."

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 $1.7 billion, global operations in more than 25 countries, and more than 9,800 employees worldwide. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through its website at

About Phase Forward

Phase Forward is a leading provider of integrated data management solutions for clinical trials and drug safety. Phase Forward's products and services have been utilized in over 10,000 clinical trials involving more than 1,000,000 clinical trial study participants at over 290 organizations and regulatory agencies worldwide. Additional information about Phase Forward is available at

Statements contained in this press release, which are not historical facts, 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 statement contained herein regarding the expected closing of the sale and anticipated trends in the Company's business are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, the ability to satisfy the closing conditions to the sale, competitive factors, outstanding trends in the pharmaceutical industry, levels of industry research and development spending, the Company's ability to continue to attract and retain qualified personnel, the fixed price nature of contracts or the loss of large contracts, and other factors described in the Company's filings with the Securities and Exchange Commission.

SOURCE Covance Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Covance Appoints Dr. Steven M. Michael as Vice President and Chief Scientific Officer of Global Bioanalytical Services
2. Covance to Present at the Drug Information Associations 45th Annual Meeting
3. Covance Elects John McCartney to Companys Board of Directors
4. Covance Reports First Quarter Revenue of $441M and EPS of $0.63; Updates Full Year Financial Targets
5. Covance Opens New Clinical Development Offices in Chile, Peru and Expands Argentina Office
6. Jina Ventures Advises Swiss Pharma Contract on Strategic Sale to Covance Inc
7. Covance Increases Early Clinical Footprint in Europe with Acquisition of Swiss-Based Early Clinical Development Site
8. Covance Purchases Equity Stake in Caprion Proteomics
9. Covance and Lilly Finalize 10-Year, $1.6 Billion Strategic R&D Collaboration
10. Covance Decides to Pursue Its Original Preclinical Strategy in China
11. Covance and WuXi PharmaTech to Form a Joint Venture to Provide World-Class Preclinical Services in China
Post Your Comments:
(Date:11/24/2015)... , Nov. 24, 2015 Cepheid (NASDAQ: ... be speaking at the following conference, and invited investors ... York, NY      Tuesday, December 1, 2015 at ... York, NY      Tuesday, December 1, 2015 at ... Healthcare Conference, New York, NY ...
(Date:11/24/2015)... ... November 24, 2015 , ... Copper ... unless it is bound to proteins, copper is also toxic to cells. With ... Worcester Polytechnic Institute (WPI) will conduct a systematic study of copper in the ...
(Date:11/24/2015)... RALEIGH, N.C. , Nov. 24, 2015  Clintrax Global, Inc., ... Raleigh, North Carolina , today announced that the company has ... earnings represented a 391% quarter on quarter growth posted for Q3 ... Kingdom and Mexico , with the ... place in December 2015. --> United Kingdom ...
(Date:11/24/2015)... ... 24, 2015 , ... The Academy of Model Aeronautics (AMA), led by its ... as Multirotor Grand Prix, to represent the First–Person View (FPV) racing community. , FPV ... embraced this type of racing and several new model aviation pilots have joined the ...
Breaking Biology Technology:
(Date:11/19/2015)... , Nov. 19, 2015  Although some 350 companies ... dominated by a few companies, according to Kalorama Information. These ... 51% of the market share of the 6.1 billion-dollar ... The World Market for Molecular Diagnostic s .    ... market is still controlled by one company and only ...
(Date:11/17/2015)... Paris , qui s,est tenu ... Paris , qui s,est tenu du 17 au ... l,innovation biométrique, a inventé le premier scanner couplé, qui ... même surface de balayage. Jusqu,ici, deux scanners étaient nécessaires, ... digitales. Désormais, un seul scanner est en mesure de ...
(Date:11/12/2015)...  A golden retriever that stayed healthy despite having ... provided a new lead for treating this muscle-wasting disorder, ... of MIT and Harvard and the University of São ... Cell, pinpoints a protective gene that boosts ... The Boston Children,s lab of Lou Kunkel , ...
Breaking Biology News(10 mins):