In my opening address of the year I recall proclaiming, quite proudly, that 2017 had been a strong year for both Sciformix and our clients, and 2018 would prove to be even better. I absolutely believed that. However, for it to turn out the way it has, is nothing short of monumental.
They say that opportunities don’t just happen. They are created.
In this case, created through a purposeful vision, sound strategy, quality delivery, continuous improvement and passion to provide clients more value. They are realized by taking tough decisions, being agile to change, building the right teams and consistently investing in people, processes and technology.
To this end, the summer of 2018 presented us with such an opportunity.
It is with great pride I say that Sciformix Corporation has been acquired by LabCorp®, a leading global life sciences company. We are now a Covance company, which is LabCorp’s drug development business. It is a significant milestone for both companies and one that ushers a new chapter in our journey with all of you, our customers.
Sciformix was founded May 7, 2007 and since then has seen significant growth that stems our ability to stand out as a Scientific Process Organization (SPO) and the trust we’ve built with our clients.
We decided to join Covance because we believe that a larger organization will allow us to provide our clients more value with a wider array of services and depth of expertise. We believe Covance is an excellent fit to continue the tradition we have for excellent service, deep expertise, and superior quality. Our clients are growing and expanding into new regions, and global reach can be a challenge for all of us. Being part of Covance will allow us to deliver greater and stronger reach, and provide you many new services and areas of expertise.
Covance is the world’s most comprehensive contract research organization (CRO). It has been involved in the development of all current top 50 drugs on the market, as measured by sales revenue. Their central laboratory generates more safety and efficacy data to support drug approvals than any other company. They collaborated with clients on more than 90 percent of all the novel drugs approved by the US FDA in 2017, including more than 90% of the novel rare and orphan disease drugs and two-thirds of the novel oncology drugs.
Going forward, Sciformix will conduct business as Sciformix, a Covance company and will largely operate as an independent business unit for the remainder of 2018.
There is very little overlap between Covance and Sciformix in terms of existing solutions and Sciformix fills a gap in Covance’s post-marketing capabilities. In addition, Sciformix is highly complementary with Covance’s existing Drug and Device Safety Solutions and Adjudication as well as its Market Access (CMA) organization. Bringing together the capabilities and resources of Covance in the clinical space and Sciformix in the post marketing space will create unique and compelling value to customers extending the entire product lifecycle, and the possibilities are truly exciting.
To our customers and patrons like you, we are grateful not only for giving us the opportunity to provide unique services but also for your loyalty and friendship, which have enriched our partnerships. We are confident that our new affiliation will serve us all well, and strengthen us as we look to the future.