Bayer HealthCare and Covance form drug development alliance

Bayer HealthCare has announced a new long-term strategic partnership with drug development services provider Covance.

The new alliance will focus on the area of clinical drug development, including research and development services related to phase II to IV clinical trials and central laboratory services.

It is hoped that this agreement will allow Bayer HealthCare to leverage Covance's broad range of experience and services to enhance operational delivery, efficiency and quality, while also delivering significant financial benefits to both organisations.

Kemal Malik, executive committee member and head of global development at Bayer HealthCare, said: "This agreement marks a significant milestone in strengthening our relationship with Covance, which we have built over several years, and provides an opportunity for both partners to develop a broader-based partnership in the future."

Earlier this month, the company announced that its drug Xarelto has been recommended by the UK's National Institute for Health and Clinical Excellence as a treatment for stroke prevention among atrial fibrillation patients.