Covalent Group, Inc. (NASDAQ:CVGR), Wayne, Pa., has announced the
awarding of contracts with five different pharmaceutical companies whose
corporate headquarters are located in the United States and Western
Europe. Three of these companies are first time clients for Covalent.
The total estimated value of the new business awards is $3.4 million.
Services will be provided in approximately 20 countries in North America
as well as Western, Central and Eastern Europe. Among these services
will be clinical trial design consulting, project management, study site
management, field operations, regulatory support, data management and
medical writing. The therapeutic areas covered by these new business
awards include diabetes, respiratory, neurology, and cardiovascular
diseases. The term of the awards range from 3 to 24 months.
Kenneth M. Borow, M.D., president and CEO, commented, "We are
proud to add three new companies to the Covalent family of clients.
These contract awards position Covalent for future additional business
with these as well as other clients in the United States and Europe. The
inclusion of work in four different therapeutic areas is consistent with
Covalent's mission of leadership in the design and conduct of
clinical trials across a wide array of disease states. We are
particularly encouraged by the geographic distribution of these contract
awards and believe that our strategy of pursuing business development
opportunities on a multi-national, multi-continent basis is beginning to
produce results."
Covalent Group, Inc. is a clinical research organization that is a
leader in the design and management of complex clinical trials for the
pharmaceutical, biotechnology and medical device industries. The
company's mission is to provide its clients with high quality,
full-service support for their clinical trials. Covalent offers
therapeutic expertise, experienced team management and advanced
technologies. The company has clinical trial experience across a wide
variety of therapeutic areas such as cardiovascular,
endocrinology/metabolism, diabetes, neurology, oncology, immunology,
vaccines, infectious diseases, gastroenterology, dermatology,
hepatology, women's health and respiratory medicine. Covalent
believes that its leadership in the design of complex clinical trials,
its application of innovative technologies, therapeutic expertise and
commitment to quality offer its clients a means to more quickly and cost
effectively develop products through the clinical trial process. In
addition, the company's use of its proprietary TeleTrial(R)
technology to support its drug development services creates consistency
in the way it conducts clinical trials globally. With its wholly owned
international subsidiary, Covalent Group, Ltd., Covalent is able to meet
many of the global drug development needs of its clients.
For more information, call 610/975-9533 or visit
http://www.covalentgroup.com.
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