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Covance Agrees to Enter Strategic Relationship with eResearchTechnology to Offer its Clients eRT's Centralized Cardiac Safety Services
Date:11/27/2007

referral fees over the term of the marketing agreement.

Covance is maintaining its full-year 2007 earnings target of $2.65 per diluted share, excluding any gain resulting from the sale of its centralized ECG business. In 2008, Covance continues to target revenue growth in the low- to mid-teens range and diluted earnings per share growth of 20%, excluding any gain resulting from any future contingent consideration received from the sale of the centralized ECG business.

Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with revenues over the last twelve months of approximately $1.5 billion, global operations in more than 20 countries, and approximately 8,700 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.

Based in Philadelphia, Pennsylvania, eResearchTechnology, Inc. (http://www.eRT.com) is a provider of technology and services to the pharmaceutical, biotechnology, and medical device industries on a global basis. The Company is a market leader in providing centralized core-diagnostic electrocardiographic (ECG) technology and services to evaluate cardiac safety in clinical development. The Company is also a leader in providing technology and services to streamline the clinical trials process by enabling its customers to automate the collection, analysis, and distribution of clinical data in all phases of clinical development.

Statements contained in this press release, which are not historical facts, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth and other financial results are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigati
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SOURCE Covance Inc.
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