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Covance and Merck & Co., Inc. Finalize Strategic Agreement
Date:8/18/2009

PRINCETON, N.J., Aug. 18 /PRNewswire-FirstCall/ -- Covance (NYSE: CVD) today announced that it has closed its transaction with Merck to provide a broad array of genomics analysis services under a five-year $145 million contract and to acquire Merck's Seattle-based Gene Expression Laboratory. Effective August 17, 2009, Covance assumed control of the facility and the Seattle team has joined Covance.

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 25 countries, and more than 10,000 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.

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 Litigation Reform Act of 1995. All such forward-looking statements including the statements contained herein regarding 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 closing of the announced transaction, competitive factors, outsourcing trends in the pharmaceutical industry, levels of i
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