Covance bolsters pharmacovigilance services with Sciformix acquisition
Covance, LabCorp’s contract research organization (CRO) business, has acquired Sciformix Corporation, a scientific process outsourcing company focused on pharmacovigilance and regulatory solutions.
“Sciformix enhances Covance’s offering, particularly in post-approval pharmacovigilance. Its capabilities are complementary with Covance’s existing Drug and Device Safety Solutions and Adjudication as well as Covance Market Access (CMA),” Sue Maynard, vice president, corporate communications, LabCorp, told Outsourcing-Pharma.com.
Sciformix provides post-marketing safety and risk management, clinical development support services, regulatory affairs and operations, technology services, and real-world evidence (RWE) solutions.
Maynard said: “The need for post-approval solutions is driven by many factors including momentum in new product launches, and increasing expectations for safety monitoring during later stages of development and post approval.”
Sciformix – which Maynard said will “largely operate as an independent business unit” – has 1,100 employees are based in Asia, further expanding Covance’s global footprint.
Terms of the transaction were not disclosed.