Covance Laboratories Inc., Unit of LabCorp

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Company Profile

Covance has been a unit of LabCorp since Feb. 2015. Covance, is one of the world's largest and most comprehensive drug development services companies with annual revenues greater than $1.3 billion, global operations in more than 20 countries, and more than 8,100 employees worldwide. Covance offers drug development solutions from preclinical through commercialization. The Madison WI site focuses on ""early development"" of drugs through Phase IIa proof of concept, and has an 80 bed healthy subject clinical trial facility on site. Local services include: Phase I-IIa studies, toxicology, drug metabolism, bioanalytical, analytical and stability, and program management services.
Business Sectors
Pharmaceuticals   Human Diagnostics  
Med or Lab Devices   Lab Reagents or Services  
Drug Manufacturing   Food & Agribusiness  
CRO Bioinformatics or Software  
    Other  
Company History
Hazelton Laboratories Corporation was founded in 1946 in Virginia as a contract toxicological lab. By 1982 Hazleton had become the largest independent biological testing company and life sciences
laboratory in the United States and the largest laboratory equipment manufacturer in the world. Biological research, the main segment of its business, included testing the effect of new drugs, cosmetics, pesticides, and industrial chemicals on animals and chemically analyzing new
compounds for the pharmaceutical, chemical, and food industries. In 1987, when it had about 400 employees, Corning acquired Hazelton for $115 million. A decade later, in 1997, Corning spun out its pharmaceutical services division to shareholders under the name Covance Inc. It included its two Madison operations Corning Hazelton (focused on drug testing) and Corning Besselaar Clinical Research Units, Inc. (focused on clinical trials) that together employed about 800 people. The two units were subsequently merged into one business unit. In Feb 2015, Covance was purchased by Laboratory Corporation of America Holdings (LabCorp) for $6.2 billion.

LEADERSHIP ROLL: Roy M. Dagnall PhD to 1990; Robert E. Conway 1990-1996; Michael G. Wokasch 1996-1999; Wendel Barr 2000-2005; Mike Lehmann 2005-2008; Henry J. Hummel 2008-present
Covance Laboratories Inc., Unit of LabCorp
Address 3301 Kinsman Boulevard
[Map] Madison
WI
53704-2523
Phone 888-541-5227
Fax 608-241-7227
Website
Head Henry J. Hummel Jr.
Company Statistics
Global Headcount 1860
Local Headcount 1860
Year Founded 1946
Ownership Operating Unit
Stock Exchange

Parent Company
Divisional Level Covance Laboratories Inc. [Princeton, NJ]
Senior Level LabCorp [Burlington, NC]
Global Headcount
Website Link
Stock Exchange NYSE
Reference Documents
News/Profiles
2015 - LabCorp Purchases Covance for $6.2 Billion [View]
2004 - Major Covance Expansion in Madison [View]
1996 - Corning Labs Spins Out Pharma Div as Covance [View]
Reports
Covance 2009 Annual Report & SEC Form 10-K [View]