Covance is a contract research and drug development company. It offers laboratory testing services to the chemical and agrochemical industries. The company also provides toxicology, central laboratory, discovery, and Phase III clinical trial management services.

Employee Rating

3.9More
TypeSubsidiary
Parent CompanyLabcorp
HQPrinceton, NJ, US
Founded1996
Websitecovance.com
Cybersecurity ratingBMore
Covance was founded in 1996 and is headquartered in Princeton, NJ, US

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Key People/Management at Covance

Paul Kirchgraber

Paul Kirchgraber

Chief Executive Officer
Katie L. Greenwood

Katie L. Greenwood

MD Medical Director
Herman Scholtz

Herman Scholtz

Vice President, Head of Early Clinical Services
Julian Demmon

Julian Demmon

Senior Executive Director, Clinical Development & Central Labs
Peter Sausen

Peter Sausen

Vice President, Global Head Early Phase Development Solutions
Cynthia Jackson

Cynthia Jackson

Vice President and General Manager, Rare Diseases and Pediatrics
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Covance Office Locations

Covance has offices in Princeton, Ann Arbor, Brentwood, Bristol and in 91 other locations
Princeton, NJ, US (HQ)
206 Carnegie Center Dr
Ann Arbor, MI, US
800 Technology Dr
Brentwood, TN, US
201 Summit View Dr #200
Bristol, TN, US
1241 Volunteer Pkwy #950
Cambridge, MA, US
300 Tech Square, 300 Technology Square #803
Chantilly, VA, US
3635 Concorde Pkwy #100
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Covance Financials and Metrics

Summary Metrics

Founding Date

1996

Total Funding

$1.3 m
In total, Covance had raised $1.3 m. Covance is a subsidiary of Labcorp

Covance Revenue

Covance's revenue was reported to be $4.88 b in FY, 2020 which is a 6.5% increase from the previous period.
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

3.0b4.3b4.6b4.9b

Revenue growth, %

42%6%7%

EBIT

422.4m516.2m637.9m37.3m

EBIT margin, %

14%12%14%1%
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Revenue

1.1b1.1b1.1b1.1b1.1b1.2b1.1b1.1b1.2b

EBIT

108.0m123.4m131.3m138.0m141.7m175.0m150.8m112.7m209.7m

EBIT margin, %

10%12%12%13%13%15%13%10%17%
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Covance Operating Metrics

Jul, 2020Nov, 2020

Patents

99

Services Provided

1313

Trademarks (US)

2224
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Covance Acquisitions / Subsidiaries

Company NameDateDeal Size
SciformixJune 11, 2018
Medaxial IncMay 19, 2014
Radiant Research IncJanuary 01, 2006
CJB Inc.
Covance (Argentina) S.A.
Covance Asia-Pacific Inc.
Covance (Asia) Pte. Ltd.
Covance Austria GmbH
Covance (Barbados) Holdings Ltd.
Covance (Barbados) Ltd.
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Covance Cybersecurity Score

Cybersecurity ratingPremium dataset

B

84/100

SecurityScorecard logo

Covance Online and Social Media Presence

Embed Graph

Covance Company Culture

  • Overall Culture

    C+

    67/100

  • CEO Rating

    A

    75/100

  • Compensation

    B

    71/100

  • Diversity

    C

    63/100

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Covance News and Updates

Claritas Announces Completion of IND-Enabling In Vitro Genotoxicity Studies with R-107

The genotoxicity studies were completed at Covance Laboratories, Inc., under full Good Laboratory Practice (GLP) compliance, which is a prerequisite to Phase 1 clinical studies according to FDA guidelines. Covance was named the “Global Contract Research Organization (CRO) Company of the Year” in 202…

Claritas Announces Completion of Canine Toxicology Studies

These canine toxicology studies were performed by Covance Laboratories, Inc., under full Good Laboratory Practice (GLP) compliance, which is an FDA prerequisite to initiation of Phase 1 clinical studies in humans. Covance is considered to be the world’s premier comprehensive drug development company…

Covance boosts Franklin to lead its cell and gene therapy unit

LabCorp’s contract research organization business Covance has promoted Maryland Franklin, Ph.D., to vice president and head of its cell and gene therapy unit. She moves up from being Covance’s site lead and executive director of scientific development at the Ann Arbor, Michigan, facility, which f…

Covance, LabCorp's Drug Development Business, Acclaimed by Frost & Sullivan for Its Unmatched Breadth of Services to Support Clinical Trials

Based on its recent analysis of the global contract research organization (CRO) market, Frost & Sullivan recognizes LabCorp's drug development business, Covance, with the 2020 Global CRO Company of the Year Award. The company has built technology-enabled solutions to assist clients with drug dev…

Covance starting to rebound, but clinical trial business still being hit by COVID-19

Covance made headlines last week when its parent company LabCorp announced it was set to transform the CRO into a digital trial-based firm.

Covance to 'transform' into a decentralized CRO

After snapping up contract research organization Covance for $6.5 billion five years ago, LabCorp is now looking to change the makeup of its drug development business.
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Covance Blogs

A Creative Solution to Address the Biosimilar Boom

Identifying viable study sites presents a challenge in many clinical trials. Biosimilar development is especially challenging as the number of sponsors preparing to broaden access to today’s blockbuster biologics, by providing lower-cost biosimilar alternative, continues to grow. While this flood of…

Decentralized Clinical Trials (DCT) Monthly Blog – May 2021

This month in the DCT Blog, we are going to put the spotlight on several events coming up in the next few weeks. Registration now open for our webinar on DCTs in Neuroscience On July 14 we will be presenting a webinar on the topic of implementing a DCT approach … The post Decentralized Clinical Tri…

Covance by Labcorp Expanding Bioanalytical Service Offering in Asia Pacific with Integrated Laboratory in Singapore

To meet the increased demand of pharmaceutical and biotechnology companies and drive continued growth, Covance by Labcorp is pleased to announce the expansion of its bioanalytical operations in Asia-Pacific. This new laboratory in Singapore will be co-located with its Central Laboratory Services and…

Five Benefits of Risk-Based Quality Management (RBQM) for Clinical Trial Data

Risk-based quality management methodologies address risk control and management during execution of a clinical trial. RBQM adoption has generated valuable benefits for project management and clinical operations, changing the way trial monitoring is done. However, data management activities are ideal…

Webinar: Advancing Your Neurodegenerative Biomarker Strategy Beyond Discovery

On April 15, Covance by Labcorp hosted the virtual conference, “Advancing Your Neurodegenerative Biomarker Strategy Beyond Discovery.” For study teams working to develop treatments for patients suffering from neurodegenerative diseases, the need to leverage new techniques quickly and effectively is …

Welcome to the April edition of the Covance by Labcorp Decentralized Clinical Trials blog

Sometimes success isn’t about the pieces that you have at your disposal, but rather it comes from how these pieces connect to each other, transforming a process and leading to a better outcome. As clinical trials evolve to more patient-centric models, mobile clinical services are becoming a more int…
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Covance Frequently Asked Questions

  • When was Covance founded?

    Covance was founded in 1996.

  • Who are Covance key executives?

    Covance's key executives are Paul Kirchgraber, Katie L. Greenwood and Herman Scholtz.

  • How many employees does Covance have?

    Covance has 20,378 employees.

  • What is Covance revenue?

    Latest Covance annual revenue is $4.9 b.

  • What is Covance revenue per employee?

    Latest Covance revenue per employee is $239.4 k.

  • Who are Covance competitors?

    Competitors of Covance include IQVIA, PPD and SNBL.

  • Where is Covance headquarters?

    Covance headquarters is located at 206 Carnegie Center Dr, Princeton.

  • Where are Covance offices?

    Covance has offices in Princeton, Ann Arbor, Brentwood, Bristol and in 91 other locations.

  • How many offices does Covance have?

    Covance has 98 offices.