Covance Inc. is a contract research organization (CRO) headquartered in Princeton, New Jersey, providing nonclinical, preclinical, clinical and commercialization services to pharmaceutical and biotechnology industries. The company is owned by LabCorp and employs more than 50,000 people in over 60 countries. According to its website, it is one of the largest companies of its kind in the world, with annual revenues of over $2 billion. It claims to provide the world's largest central laboratory network. It became a publicly-traded company in 1997 after being spun off by Corning Incorporated in 1996. In 2018, the Covance parent company, Laboratory Corporation of America Holdings (LabCorp), was rated one of the best places to work for LGBTQ Equality by the Human Rights Campaign. Covance has been subject to criticism from animal rights groups including People for the Ethical Treatment of Animals and the British Union for the Abolition of Vivisection for its animal testing procedures.
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