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Financial Report: Covance 4Q09

Early-Stage down, Late-Stage up

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Covance 4Q09 4Q Revenues: $485.1 million (+11%) 4Q Earnings: $41.5 million (-9%) FY Revenues: $1.9 billion (+8%) FY Earnings: $175.9 million (-11%) Comments: Early Development revenues were down 5% to $203.1 million in 4Q09 and down 6% to $844.8 million in FY09, due to reduced demand. Toxicologu revenues were up for the second consecutive quarter, but Covance did not provide numbers for that subsegment. Late-Stage Development revenues were up 26% to $281.9 million in 4Q09 and up 2...

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