Focus and Expansion
The company's primary focus is serving the pharmaceutical and biotechnology industries. As part of its clinical and non-clinical development services, it provides testing services to the environmental, food, and nutritional-supplement industries, and provides custom antibody products and services to the research community for neurological disorders. It also offers cell-type-specific marker antibodies for neuroscience; suites of products for both Alzheimer’s and Parkinson’s disease; and an online antibody store, including phospho-specific and secondary antibodies.
The company provides commercialization services to pharmaceutical, biotechnology and medical-device companies. Reimbursement and health economics consulting services are offered through its “Market Access Services” division, and post-approval services are provided through the company’s periapproval services group. Covance's Nutrition division provides food and dietary supplements analysis services. In 2009 Covance and Kellogg announced that Covance will provide analytical chemistry, microbiology, and stability testing for Kellogg products, a deal valued at $42 million.
Covance continued its expansion with acquisitions of drug-development companies. In August 2005 it acquired GFI Clinical Services, an 80-bed clinical pharmacology business, from West Pharmaceutical Services, Inc. In May 2006 it acquired Signet Laboratories, Inc., a provider of monoclonal antibodies used in the research of cancer, infectious disease and neurodegenerative disease. In August 2008 it purchased early drug development facilities in Greenfield, Indiana, from Eli Lilly for $50 million; in a contract valued at $1.6 billion, Covance agreed to provide Eli Lilly with drug development services for 10 years. It also planned to provide services to other pharmaceutical and biotechnology clients at the Greenfield site.
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