News Release
Not intended for U.S. and UK MediaBayer Pharma AG
13342 Berlin
Germany
Tel. +49 30 468-1111 www.bayerpharma.com
Bayer enters into strategic partnership with CovanceFocus on R&D services in the area of clinical drug development
Berlin, May 30, 2012 - Bayer HealthCare and Covance Inc. have decided to establish a long-term strategic partnership in the area of clinical drug development including R&D services related to Phase II-IV clinical studies and central laboratory services. The new strategic partnership marks a next level of the broad-based cooperation both partners have developed over the past years and represents the efforts to maximize its benefits across the Bayer HealthCare organization. Bayer's goal is to better leverage Covance's broad range of experience and services across the R&D portfolio to attain best in class operational delivery, efficiency and quality whilst also delivering significant financial benefits to both organizations.
"This agreement marks a significant milestone in
strengthening our relationship with Covance which we have
built over several years and provides an opportunity for both
partners to develop a broader-based partnership in the future
to deliver mutual benefits to both organizations", said Kemal
Malik, Member of the Executive Committee and Head of Global
Development at Bayer HealthCare.
"We are extremely proud to have established an enduring
relationship with Bayer HealthCare built on trust and proven
performance that is now elevating to a strategic
partnership," said John Watson, President, Strategic
Partnering, and Chief Commercial Officer, Covance. "We look
forward to working together with Bayer HealthCare to identify
opportunities to leverage our broad portfolio to generate
more efficiencies thereby reducing the overall time and cost
of drug development."
Covance, with headquarters in Princeton, New Jersey, is one
of the world's largest and
most comprehensive drug development services companies with
annual revenues greater
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than 2 billion US Dollar, global operations in more than 30
countries, and more than
11,000 employees worldwide. Information on Covance's products
and services, recent press releases, and SEC filings can be
obtained through its website at www.covance.com.
The Bayer Group is a global enterprise with core competencies
in the fields of health care, nutrition and high-tech
materials. Bayer HealthCare, a subgroup of Bayer AG with
annual sales of EUR 17.2 billion (2011), is one of the
world's leading, innovative companies in the healthcare and
medical products industry and is based in Leverkusen,
Germany. The company combines the global activities of the
Animal Health, Consumer Care, Medical Care and
Pharmaceuticals divisions. Bayer HealthCare's aim is to
discover, develop, manufacture and market products that will
improve human and animal health worldwide. Bayer HealthCare
has a global workforce of 55,700 employees (Dec
31, 2011) and is represented in more than 100 countries. Find
more information at www.bayerhealthcare.com.
Contact:
Diana Scholz, Tel. +49 30 468-14079
E-Mail: diana.scholz@bayer.com
Find more information at www.bayerpharma.com. ds (2012-0216E)
This release may contain
forward-looking statements based on current assumptions and
forecasts made by Bayer Group or subgroup management. Various
known and unknown risks, uncertainties and other factors
could lead to material differences between the actual future
results, financial situation, development or performance of
the company and the estimates given here. These factors
include those discussed in Bayer's public reports which are
available on the Bayer website at www.bayer.com. The company
assumes no liability whatsoever to update these
forward-looking statements or to conform them to future
events or developments.
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