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Sanofi sites boost early-stage revenues
July 28, 2011
By: Gil Roth
Covance 2Q 2Q Net Revenues: $518 million (+9%) 2Q Earnings: $37 million (+19%) YTD Net Revenues: $1.0 billion (+7%) YTD Earnings: $70 million (-1%) Comments: Early Development revenues rose 11% for 2Q ($232 million) and 10% for YTD ($456 million), driven by results from the new sites in UK and France recently acquired from Sanofi. Revenues were down at the Vienna, VA toxicology site. Late-Stage Development revenues were up 7% for 2Q ($286 million) and 4% YTD ($564 million). Growth was attributed to strong performance in clinical development and a weakening dollar.
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