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Who Founded Covance? A Comprehensive Guide
Introduction
Covance is a leading global provider of outsourced drug development services to the pharmaceutical, biotechnology, and medical device industries. With a history spanning over three decades, the company has played a vital role in the advancement of new therapies and treatments.
The Founding Team
Covance was founded in 1981 by three visionary entrepreneurs:
- Charles River Laboratories International, Inc.: A leading provider of research models and services to the pharmaceutical and biotechnology industries.
- Ciba-Geigy Limited: A Swiss multinational chemical and pharmaceutical company.
- Eli Lilly and Company: An American global pharmaceutical company.
These three companies combined their expertise in drug discovery, development, and manufacturing to create a comprehensive service offering for the biotechnology industry.
Robert J. Elinoff: The Key Figure
Robert J. Elinoff, a renowned entrepreneur and industry leader, served as the founding CEO of Covance. He played a pivotal role in shaping the company’s vision, culture, and strategic direction.
Prior to founding Covance, Elinoff held leadership positions at Charles River Laboratories and MDS Laboratories. He had a deep understanding of the drug development process and recognized the need for a comprehensive outsourcing solution.
Early Years and Growth
In its early years, Covance focused on preclinical drug development services, including animal testing, toxicology, and efficacy studies. As the industry evolved, the company expanded its offerings to include clinical research, regulatory affairs, and post-marketing surveillance.
Through a combination of organic growth and strategic acquisitions, Covance established a global presence with facilities in North America, Europe, and Asia-Pacific.
Recent Developments
In recent years, Covance has continued to innovate and expand its service offerings. The company has invested heavily in technology, including electronic data capture, data analytics, and artificial intelligence.
In 2017, Covance was acquired by Laboratory Corporation of America Holdings (LabCorp), a leading global life sciences company. This acquisition has further strengthened Covance’s position as a leading provider of outsourced drug development services.
Conclusion
Covance’s founding team, led by Robert J. Elinoff, laid the foundation for a successful and innovative biotechnology company. Through their vision, leadership, and commitment to quality, Covance has become a trusted partner to pharmaceutical and biotechnology companies worldwide.
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