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Early and late-stage FY revenues up 11% and 7%, respectively
January 27, 2012
By: Tim Wright
Editor-in-Chief, Contract Pharma
Covance 4Q Revenues: $582.4 million (+8%) 4Q Earnings: $21.1 million (-26%) FY Revenues: $2.1 billion (+9%) FY Earnings: $132.2 million (+94%) Comments: Early Development revenues were $234.5 million in the quarter (+6%) and $930.6 million for the year (+11%). Revenue growth in the quarter was driven by results from the company’s new Alnwick, UK and Porcheville, France sites and clinical pharmacology, partially offset by a $5.7 million sequential decline due to lower demand in research prod...
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