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Early development revenues were $192.5 million (-5%). Late-stage development revenues were up 18% to $248.7 million.
April 30, 2009
By: Tim Wright
Editor-in-Chief, Contract Pharma
Covance 1Q 1Q Revenues: $468.4 million (+8%) 1Q Earnings: $40.3 million (-18%) Comments: Early development revenues were $192.5 million (-5%). Late-stage development revenues were up 18% to $248.7 million. Backlog at March 31, 2009 was up 54% to $4.4 billion. Adjusted net orders (orders adjusted for dedicated capacity contracts) were $589 million in the quarter....
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