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Financial Report: Covance

Late-Stage revenues up 16% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Covance   4Q Revenues: $562 million (+5%) 4Q Earnings: $33.9 million (+60%) YTD Revenues: $2.2 billion (+6%) YTD Earnings: $94.7 million (-28%) Comments: Late-Stage Development revenues in the quarter grew 16% to $345 million, led by 22% growth in clinical development and 16% growth in central labs, which offset a decline in market access services. For the year Late-Stage Development revenues grew 13% to $1.3 billion. Early Development revenues were down 7% to $217.4 million in the quarter a...

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