Covance is expanding its clinical pharmacology footprint in Europe with the acquisition of Swiss Pharma Contract, a 50-bed clinical research company based in Basel, Switzerland. The facility increases Covance's global capacity to approximately 550 beds in the U.S. and Europe. The company's staff includes nine physicians as well as other medical staff. All Swiss Pharma Contract employees will be offered employment at Covance.
Swiss Pharma Contract provides clinical research services to the pharmaceutical, biotechnology, and medical-device industries. The company has conducted more than 200 complex trials since 2002, with roughly a third of them being first-in-human studies. The Basel site also has expertise in radiolabeled and proof-of-concept studies, experience in specialty therapeutic areas, and access to a large volunteer database.
"Our clients' need for complex, high-science clinical pharmacology studies that can help them make decisions faster is growing," said Joe Herring, Covance chief executive officer. "This acquisition significantly increases Covance's early clinical development footprint in Europe and gives our clients access to special patient populations for Phase I/IIa clinical studies. Covance's early clinical development offerings are well-positioned to provide our clients with the knowledge critical to enhancing downstream success rates."