The new facility is expected to strengthen Covance in offering clinical development and commercialisation solutions, bioanalytical services and central laboratory services
Image: LabCorp provides a comprehensive clinical laboratory and end-to-end drug development services. Photo: Courtesy of Michal Jarmoluk from Pixabay.
LabCorp, a patient care focused life sciences company, announced that its drug development business Covance has opened a new R&D centre in Shanghai, China.
LabCorp said that the centre is constructed on a site spanning 12,000m2 area, which is located in the Zhangjiang Hi-Tech Park of Shanghai’s Pudong District, China.
Shanghai Municipal Commission of Commerce vice chairman Chao Yang, Shanghai Association of Foreign Investment chairman Feng Huang, Covance CEO John Ratliff, Covance corporate vice president Honggang Bi along with biopharmaceutical and biotech industry leaders, clinical researchers and research partners were present at the opening of the new facility.
Bi said: “It’s an exciting time to be at the heart of pharmaceutical R&D in China. The government has identified pharmaceutical innovation as a national strategy, with a program of reforms and regulations that has ignited innovation and accelerated development at both a national and global level. The inauguration of our R&D Center in Shanghai signals our long-term commitment to this exciting and growing industry.”
The new R&D centre marks the largest LabCorp facility in the Asia Pacific region
The new facility is expected to strengthen the capabilities of Covance to serve customers with clinical development and commercialisation solutions, bioanalytical services and central laboratory services.
Covance’s Early Development services, including safety assessment, metabolism and lead optimization, will remain at Covance’s facility on Kangxin Road in the Shanghai International Medical Zone near the R&D centre.
LabCorp claims that it provides a comprehensive clinical laboratory and end-to-end drug development services to improve health life. It delivers diagnostic solutions, brings advanced medicines to patients, and makes use of technology to improve the delivery of care.
Covance CEO John Ratliff said: “We entered China in 1998 and have grown our breadth of services, scientific capabilities and therapeutic expertise progressively, building our operations to meet global standards and requirements.
“Today we are the only provider to offer comprehensive R&D services from early development through commercial solutions in China, as well as globally. Our Shanghai R&D Center continues our investment in China, bringing professionals and teams together to serve both the burgeoning Chinese pharmaceutical and biotech industry, as well as global biopharmaceutical clients working in the region.”