Late-stage drug research powers Covance profit beat

(Reuters) - Research services provider Covance Inc reported a better-than-expected 19 percent jump in quarterly adjusted profit as it gained from higher investments in later stages of drug development by pharma companies. The company forecast 2014 adjusted earnings of $3.65 to $4.00 per share, compared to analysts' expectation of $3.81. Covance, considered a bellwether for the contract research business, said fourth-quarter revenue jumped 14.5 percent in the later-stage research business. ...



via Health News Headlines - Yahoo News http://ift.tt/1jdj1KN