SINGAPORE, Nov. 20, 2019 /CNW/ -- Covance was honored with the 2019 Global CRO Customer Value Leadership award from Frost & Sullivan at the annual Frost & Sullivan Asia-Pacific Best Practices Awards banquet held in Singapore on 14 November 2019.
Frost & Sullivan firmly believes Covance's end-to-end drug development and commercialization solutions characterize its leadership in the highly dynamic CRO market.
Aarti Chitale, Senior Research Analyst, Life Sciences, Frost & Sullivan noted Covance aided the commercialization of the top 50 drugs worldwide, and enjoys a keen competitive edge in the CRO industry as reflected by strong financial performance.
"Covance's reach across more than 100 countries and a strong client base has helped to establish it as a leading global CRO. The company's cutting-edge services, including the Xcellerate® Informatics Suite designed to support all aspects of drug development services, has also created a strong branding among customers," she added.
"We are honored to work with some of the most innovative companies in the world, who are driving global advances in precision medicine," said Paul Kirchgraber, M.D., CEO, Covance. "Whether they need regional services and insight or support with a global strategy, Covance can provide data-driven solutions and significant expertise to drug development at every touchpoint. I appreciate our customers for giving us the opportunity to do what we do best. I am proud of our employees who consistently strive to improve health and improve lives."
The recipients of the annual Frost & Sullivan Asia-Pacific Best Practice Awards were identified based on in-depth research conducted by Frost & Sullivan's analysts. The award categories offered each year are carefully reviewed and evaluated to reflect the current market landscape and new emerging trends. The short-listed companies were evaluated on a variety of actual market performance indicators which include revenue growth, existing and growing market share, leadership in product innovation, and strategy in marketing and business development.
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SOURCE Frost & Sullivan