About Covance
Covance is a company based in Princeton (United States) founded in 1996 was acquired by Pyxant in May 2021. Covance has completed 5 acquisitions, including GlobalCare Clinical Trials, PMI Preclinical and Rcri. Covance offers products and services including Central Lab Services, Nonclinical Studies, and Bioanalytical Services. Covance operates in a competitive market with competitors including Charles River Laboratories, Cytel, LabCorp, Precision Medicine Group and Frontage Laboratories, among others.
- Latest Funding Round$304.41 K (USD), Grant
Mar 01, 2021
- InvestorsLabCorp
& 2 more
- Investments & AcquisitionsGlobalCare Clinical Trials
& 4 more
- Acquired by
Associated legal entities of Covance
Covance is associated with 3 registered companies on The Company Check. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Fortrea Development India Private Limited CIN U74999KA2007PTC190095 | Active | 10 Jul 2007 | Bangalore, Karnataka | ₹535 Cr | 3,153 | 3 | View details |
| Fortrea Scientific Private Limited CIN U72300PN2007PTC230189 | Active | 21 Apr 2007 | Pune, Maharashtra | ₹382 Cr | 1,822 | 2 | View details |
| Fortrea Clinical Development Private Limited CIN U73100KA2002PTC031038 | Active | 24 Sep 2002 | Bangalore, Karnataka | ₹64.3 Cr | 219 | 2 | View details |
Products & Services of Covance
Covance offers a comprehensive portfolio of products and services, including Central Lab Services, Nonclinical Studies, and Bioanalytical Services.
Provides testing for clinical trials and drug development processes.
Conducts toxicology and pharmacology for biopharma research.
Offers biomarker and genomics analysis for therapeutic development.
Apps and channels of Covance
its YouTube channel Labcorp has 6.37K subscribers and 30 videos.
Videos from Covance
The most watched videos on Covance's YouTube channel, Labcorp (6.37K subscribers). Click a video to play it here.
More on Labcorp .
Funding Insights of Covance
- Total Rounds 2
- Last Round Grant — $304,415
- First Round $250.0M
(01 Nov 2013)
- Investors Count 1
All 2 funding rounds of Covance with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 01 Mar 2021 | $304,415 | Grant | – | – | |
| 01 Nov 2013 | $250.0M | Debt – Venture | – | – | – |
3 investors in total: 3 institutional.
Investors in Covance
Covance has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include LabCorp, European Union and Pyxant.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability | 1958 | europa.eu | Brussels, Belgium | |
Provider of laboratory tests for physicians | 1969 | labcorp.com | Burlington, United States | |
GLP bioanalytical services for drug development are provided by Pyxant. | 1984 | pyxant.com | Colorado Springs, United States |
Investor details for Covance
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Board of directors of Covance
The boards of the 3 registered companies of Covance currently have 3 directors; the longest-serving is David Howard Cooper, appointed in 2023. 53 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| David Howard Cooper DIN 10204529 | Director | 30 Jun 2023 | 3 yrs 3 mo | Fortrea Scientific Private Limited, Fortrea Clinical Development Private Limited, Fortrea Development India Private Limited |
| Rishi Raj Sharma DIN 07365851 | Director | 11 Sep 2023 | 3 yrs | Fortrea Scientific Private Limited, Fortrea Clinical Development Private Limited, Fortrea Development India Private Limited |
| Hufriz Kaiky Karkaria DIN 11444261 | Additional Director | 09 Jan 2026 | 8 mo | Fortrea Development India Private Limited |
People of Covance
716 people are tracked at Covance (295 in leadership, 9 in board & advisors, 412 in team).
| Name | Role | Group |
|---|---|---|
Adam H. Schechter | President & CEO | Leadership |
Charles Houck | Director Of Information Technology For Covance Market Access Services | Leadership |
Sandra D. Van Der Vaart | EVP, Chief Legal Officer, Chief Compliance Officer, & Corporate Secretary | Leadership |
John Ratliff | CEO, LabCorp Diagnostics | Leadership |
Kent Pearson | Director, IT Enterprise Monitoring And Operations | Leadership |
Crystal Icenhour | Microbiome & Specialty Infectious Disease Director | Leadership |
Bobbi Croy | Vice President IT | Leadership |
Libby Williams | Director - IT Infrastructure, Integration Services | Leadership |
Joseph Campo | Associate Vice President / IT Director - Client Connectivity & Support | Leadership |
Crystal Lala | Pre-clinical Med-device Director Of Operations | Leadership |
Nezabravka Tzvetanova | Business Development Director | Leadership |
Jordan Woodrick | Director Of Operations | Leadership |
Lucas Rifkin | Senior Medical Director | Leadership |
Kim Dugan | Director Specialty Analytics And Support | Leadership |
Will Stimpson | Global Executive Director Business Development - CMC | Leadership |
Julia Wang | EVP & CFO | Leadership |
Howard D. Engler | Associate Vice President | Leadership |
Amanda Kukulski | Senior Director, Data Products | Leadership |
Jim Maruca | Senior Vice President | Leadership |
Rachel McInerney | Vice President Of Human Resources | Leadership |
696 more people are available in the full profile.
Complete people profiles for Covance
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Covance
Figures of Fortrea Scientific Private Limited, the primary company behind Covance, for FY 2025. Revenue was ₹382 Cr (+12% year on year). Net profit was ₹61.23 Cr (16% margin). EBITDA was ₹98.83 Cr (26% margin).
- ₹382 CrRevenue · FY 2025 · +12% YoY
- ₹61.23 CrNet profit · 16% margin
- ₹98.83 CrEBITDA · 26% margin
- ₹0.01 CrPaid-up capital
- 1,822Employees (provident fund records)
Balance sheet, profit and loss, cash flow and ratios of Fortrea Scientific Private Limited are on its company page.
Detailed financial statements for Covance
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Downloads
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Investments & Acquisitions by Covance
Covance has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include GlobalCare Clinical Trials, PMI Preclinical and Rcri.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Clinical site management, patient recruitment, and retention services are provided. | globalcarect.com | Vernon Hills, United States | 2010 | Jul 2020 | •••• | |
A provider of strategic consulting and integrated clinical trial services to the medical device industry | rcri-inc.com | Minneapolis, United States | 2009 | Apr 2019 | •••• | |
Preclinical medical device testing is specialized in by this organization. | pmipreclinical.com | San Carlos, United States | 1983 | Oct 2018 | •••• | |
Scientific process outsourcing is delivered for life sciences firms. | sciformix.com | Westborough, United States | 2006 | Jun 2018 | •••• | |
Injectable drugs, tablets, capsules, and pharmaceutical products are manufactured. | swisspharma.in | Ahmedabad, India | 1987 | Mar 2009 | •••• |
Complete acquisition details for Covance
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
Timeline of Covance
10 dated milestones of Covance across 25 years, from founding to its latest funding, stage changes and deals.
- Founded Covance is founded.
- Acquisition Acquires Swiss Pharma.
- Funding First funding round of $250.0M.
- Exit Acquired by LabCorp.
- Acquisition Acquires Sciformix Corporation.
- Acquisition Acquires PMI Preclinical.
- Acquisition Acquires Rcri.
- Acquisition Acquires GlobalCare Clinical Trials.
- Funding Latest funding round, Grant, of $304K.
- Exit Acquired by Pyxant.
Competitors of Covance
Covance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Charles River Laboratories, Cytel, LabCorp, Precision Medicine Group and Frontage Laboratories, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| criver.com | 1947 | Wilmington, United States | – | 21,400 | Provider of drug discovery and preclinical development services | |
| cytel.com | 1987 | Cambridge, United States | $2.0M | 509 | Data analysis and statistical solutions are provided for life sciences. | |
| labcorp.com | 1969 | Burlington, United States | – | 9,321 | Provider of laboratory tests for physicians | |
| precisionmedicinegrp.com | 2012 | Bethesda, United States | $257.2M | 2,151 | Provider of clinical research, development, and commercialization services for life sciences | |
| frontagelab.com | 2001 | Exton, United States | $10.2M | – | Early drug development services are provided for pharma firms. | |
| precisionformedicine.com | 2013 | Bethesda, United States | $150.0M | – | Company offering specialised R&D and clinical development services for the development of precision medicine based drugs and devices | |
| canopybiosciences.com | 2016 | St. Louis, United States | $4.5M | – | Cell line engineering services are offered via CRISPR-Cas9 technology. | |
| taimei.com | 2013 | Pleasanton, United States | $193.7M | – | A digital intelligence platform is focused on life sciences activities. | |
| scantox.com | 1977 | Lille Skensved, Denmark | $6.3M | 30 | Laboratory focused on providing pharmacology, toxicology, and histopathology services | |
| tenpointtherapeutics.com | 2020 | Cambridge, United Kingdom | $70.0M | – | Engineered cell-based therapeutics are developed to restore vision. |
Detailed competitors of Covance
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- Full competitor set
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Verified entity values are shown only after access is granted.
Latest news on Covance
Complete news archive for Covance
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
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Similar companies to Covance
10 companies that operate in the same segment as Covance (Biopharma Outsourcing & Drug Delivery), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Developer of integrated contract research development and manufacturing services | 2007 | Bengaluru, Karnataka, India | USD 35.74 M | USD 226.38 M | 1,820 | |
Drug discovery and development services are provided to biopharma sector. | 1993 | Hamburg, Hamburg, Germany | USD 25 M | USD 926.33 M | 4,830 | |
Drug discovery and development services for small molecules are provided. | 2003 | Beijing, China | USD 320 M | – | 476 | |
Suite solutions are provided for payers and healthcare providers. | 1998 | Princeton, New Jersey, United States | USD 255.15 M | USD 374.1 M | 4,490 | |
Wearable insulin infusion systems are developed for diabetes patients. | 2000 | Boston, Massachusetts, United States | USD 120.4 M | USD 2.71 B | 3,900 | |
Developer of small-molecule drugs | 1991 | Los Angeles, California, United States | USD 50 M | USD 348.97 M | 407 | |
Pharmaceutical and biotechnology company | 2005 | Hyderabad, Telangana, India | USD 229.73 M | USD 726.15 M | 12,470 | |
Pharmaceutical products for treating multiple diseases are provided. | 1849 | New York, New York, United States | USD 8 M | USD 266.99 M | 1,770 | |
Provider of laboratory tests for physicians | 1969 | Burlington, Vermont, United States | – | USD 13.95 B | 70,000 | |
India's leading healthcare products distribution platform | 2018 | Mumbai, Maharashtra, India | USD 59.67 M | USD 702.49 M | 4,260 |
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Frequently Asked Questions about Covance
Covance was founded in 1996 and raised its 1st funding round 17 years after it was founded.
Covance is headquartered in Princeton, United States. It is registered at Princeton, New Jersey, United States.
Covance was founded in 1996 in Princeton, United States, as a global contract research organization in the pharmaceutical sector. Services encompass drug discovery, lead optimization, analytical and safety assessments, clinical development, testing, manufacturing support, informatics, and health economics. Operations cover small molecules and biologics across therapeutic areas including cardiovascular diseases, oncology, and infectious diseases. The company was acquired by LabCorp in 2015.
Covance's top competitors include LabCorp, Charles River Laboratories and Cytel.
Covance offers Central Lab Services, Nonclinical Studies, and Bioanalytical Services.
Covance has made 5 acquisitions, including GlobalCare Clinical Trials, PMI Preclinical, and Rcri.
Covance has 3 investors. Key investors include LabCorp, European Union, and Pyxant.
Covance is associated with 3 legal entities: Fortrea Scientific Private Limited, Fortrea Clinical Development Private Limited, Fortrea Development India Private Limited.
Yes. Covance was acquired by Pyxant in May 2021.
The legal entities of Covance currently have 3 directors, including David Howard Cooper, Rishi Raj Sharma, Hufriz Kaiky Karkaria.