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Covance earnings rise in Q2

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Princeton-based drug developer Covance announced Tuesday its fiscal second-quarter results rose from the same period in 2013.

Covance said in a news release that pro forma earnings were 95 cents per diluted share, an increase of 21.5 percent from the year-ago period. Net revenue reached $639 million, up 8 percent from the year before.

"In the second quarter, a stronger-than-expected performance in early development and continued strong growth in central laboratories more than offset lower-than-expected growth in clinical development," Joe Herring, chairman and CEO, said in the release.

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Eric Strauss

Eric Strauss

Eric Strauss is the digital content editor for NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com or @acerimrat on Twitter.

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