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Covalent Group, Inc. to Conduct $4 Million Clinical Development Study
December 17, 1998 12:28 PM
WAYNE, Pa., Dec. 17 /PRNewswire/ -- Covalent Group, Inc. CVGR today announced that it has been awarded a $4 million contract from a leading pharmaceutical firm to conduct a major, multi-year, clinical development study. The contract also provides for Covalent to administer and manage an additional $8 million in investigator grants, clinical development fees, and other related expenses.
"This new study, which is in a major therapeutic area, interfaces with our core competency in advanced clinical research and will utilize our integrated electronic centralized patient randomization, drug dispensing and drug tracking system, TeleTrial. This system will cost-effectively accelerate the achievement of the sponsor's clinical research milestones in this study," commented Bruce LaMont, Chief Executive Officer. "Covalent will continue to deliver quality services and innovative solutions to its expanding client base. Our experience and expertise are affording us the opportunity to help ensure the success of our clients' products in the marketplace."
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