Covance to Close Preclinical Site
Covance is closing a testing site in Kalamazoo, Mich., as part of the CRO’s ongoing efforts to cut back its preclinical services. The site will be closed by November, and, according to published reports, 63 workers will lose their jobs.
Covance’s early-stage division has struggled in recent months. Late last summer, the CRO delayed plans to build a $145-million preclinical toxicology testing facility in Virginia, a site that was purchased from Eli Lilly in 2007. In January, the company reported a 6% drop in year-end 2009 revenues for the early-development segment.