July 2008

Covance Reports 23% Earnings Growth in 2Q

Thursday, July 31, 2008

Covance reported after the bell Wednesday that its second quarter earnings jumped 22.7% to 79 cents per diluted share compared with the second quarter of 2007. The contract research organization said the earnings excluded one cent per share gain from the sale of its centralized ECG business in 2007.

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eResearchTechnology Names CFO

Thursday, July 31, 2008

eResearchTechnology (eRT), a provider of centralized ECG and eClinical technology, ePRO and other services to the biotech, pharmaceutical and medical device industries, appointed Keith Schneck as executive vice president and chief financial officer.

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Phase Forward Revenue Jumps 30%

Wednesday, July 30, 2008

Waltham, Mass.-based Phase Forward, a provider of data management solutions for clinical trials and drug safety, reported after the bell Monday a 30% jump in second quarter revenues to $40.9 million from $31.5 million in the second quarter of 2007.

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Sponsors Look to CROs for Phase I Consulting

Monday, July 28, 2008

Although many boutique consulting firms and the majority of contract research organizations (CROs) have been offering trial design and regulatory consulting for years, demand has been surfacing as of late in phase I.

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MDS Cuts 210 Staff in North America

Friday, July 18, 2008

MDS has become the second pharmaceutical services company in as many weeks to report a round of layoffs. Toronto-based MDS has slashed 210 jobs from its North American workforce, representing 4% of MDS’s 5,500 worldwide employees. The company stated that 75% of the lay offs will come from its MDS Pharma Services (contract research) division with the remainder from its Analytical Technologies (medical equipment manufacturing) group. MDS cited that the action will result in third quarter charges of $18 million and $10 million in write downs at its Pharma Services laboratory based in Montreal. Company shares rose 1.8 per cent, or 26 cents, to $14.85 in trading on the Toronto Stock Exchange.  MDS is scheduled to release its third quarter fiscal 2008 earnings on September 4, 2008.

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