Bayer HealthCare and Covance, a CRO based in Princeton, N.J., have established 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 partnership marks the next level of the broad-based cooperation both companies have developed over the years and represents the efforts to maximize its benefits across the Bayer HealthCare organization. Bayer’s aims 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 while also delivering significant financial benefits to both organizations.

“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 of 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.”