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Financial Report: Covance 3Q11

Early Development segment up 16%

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Covance 3Q11 3Q Revenues: $578.9 million (+13%) 3Q Earnings: $40.7 million (loss of $30.9 million 3Q10) YTD Revenues: $1.7 billion (+9%) YTD Earnings: $111.0 million (earnings were $39.9 million YTD10) Comments: Revenues for the Early Development segment, which includes preclinical toxicology, analytical chemistry, clinical pharmacology, discovery support, and research products, were up 16% to $240.2 million, driven by new sites in Alnwick, UK and Porcheville, France. Also, analytical chemi...

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