ednesday August 19, 10:12 am Eastern Time
Company Press Release
SOURCE: Covalent Group, Inc.
Covalent Group, Inc. Wins
Mega-Clinical Study
WAYNE, Pa., Aug. 19 /PRNewswire/ -- Covalent Group, Inc. (Nasdaq: CVGR -
news) today announced the signing of a clinical development study valued in
excess of $5 million. The contract is with a top tier pharmaceutical company for a
multi-year, Phase III mega-clinical development study.
Bruce LaMont, President and Chief Executive Officer said, ''We are pleased that
after having proven Covalent's capabilities in previous studies, we now have been
asked by a premier pharmaceutical firm to conduct a major, multi-year,
development study involving a large number of sites and over 37,000 patients.''
Mr. LaMont added, ''This pivotal study fits well with the Company's strategy to
broaden the scope of development work based on establishing a reputation for
excellence in providing innovative solutions for clients' needs. I am confident we
will gain additional business from new clients, as well as our current client base.''
Covalent provides drug development and health management solutions to
pharmaceutical and device manufacturers, as well as to managed care
organizations. To aid its pharmaceutical and managed care customers, Covalent
has developed a disease assessment system using interactive voice recognition
technology -- Virtual HouseCall.
This press release contains forward-looking statements. Actual results might
differ materially from those projected in the forward-looking statements.
Additional information concerning factors that could cause actual results to
materially differ from those in forward-looking statements is contained in
Covalent's SEC filings, including periodic reports under the Securities Exchange
Act of 1934, as amended, copies of which are available upon request from
Covalent's investor relations department.
SOURCE: Covalent Group, Inc. |
