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Covance Appoints Dr. Steve Street To Lead Worldwide Safety Assessment And Pharmaceutical Chemistry Services

PRINCETON, N.J., June 18, 2012 /PRNewswire/ -- Covance Inc. (NYSE: CVD) today announced that Steve Street, Ph.D., has joined the company as Global Vice President and General Manager, overseeing Covance's worldwide safety assessment and pharmaceutical chemistry services.  He will be based in Harrogate, UK. Dr. Street, with more than 27 years of experience in biopharmaceutical R&D, joins Covance from Pfizer, Inc., where he served as Vice President and Head of two global R&D units – the Research Centers of Emphasis and Continuous Improvement.  In these roles, he led the company's high-performing technology and operations group to increased portfolio development speed and project survival, ultimately creating a positive impact across multiple therapeutic areas, including chemistry and biology outsourcing, innovation, and new indications.  During his tenure at Pfizer, Dr. Street also served as Head of the company's Worldwide Chemistry Discipline.

"Steve's keen strategic insights and exceptional R&D background will benefit Covance as we refine our global presence and strengthen our scientific expertise in early development," said Deborah Tanner, Executive Vice President and Group President, R&D Laboratories, Covance.  "Science is at the core of everything we do, and the addition of a leader like Steve allows us to continue to meet clients' needs in this increasingly complex industry and, ultimately, remain the drug development partner of choice."

"Covance is known for its continuous global innovation in development, superior quality of products and services, and long-standing client relationships, all of which are essential elements for sustained success in today's highly competitive R&D landscape," said Dr. Street. "With an increasing focus on outsourcing, this is a very exciting time to transition from pharma to a contract research organization, and I am proud to join the industry leader.  I look forward to learning from and working with a talented, dedicated group of new colleagues at Covance."

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