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Sanofi revenues expected to boost 2011 results
January 27, 2011
By: Tim Wright
Covance 4Q10 4Q Revenues: $492 million (+1%) 4Q Earnings: $28 million (-32%) FY Revenues: $1.9 billion (+3%) FY Earnings: $68 million (-61%) Comments: Early development revenues grew 9% to $221 million, driven by added revenue from the company’s new facilities, acquired in the strategic pact with Sanofi-Aventis; FY10 revenues for the unit were up 6% to $840 million. Late stage development revenues dropped 4% in 4Q10 due to cancellations, delays and other factors; FY10 revenues were +1% ($1.1 billion).
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