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Covance to Sell Its Interactive Voice and Web Response Services and Enter Into a Multi-Year Marketing Agreement with Phase Forward
Date:7/15/2009

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 www.covance.com.

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 www.phaseforward.com.

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 ma
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