Drug research company
said Wednesday that it received a contract worth a minimum of $187 million.
The contract is for an extended and expanded dedicated space agreement and is the largest contract in the company's history.
This new contract secures toxicology space for an undisclosed client from 2007 to 2013 and will add about $150 million to the company's second-quarter backlog, the majority of which will be converted to revenue between 2009 and 2013.
"For the second time this year, a company has decided to outsource a significant portion of its GLP toxicology work to Covance under a dedicated space contract," the Princeton, N.J.-based company said.
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