The awards for 'Market Leadership of the Year' and 'Customer Value Enhancement in the North American Contract Research Organization (CRO) Market' were said to reflect Covance's market leading position - the firm has a 12 per cent share of the $6.4bn (€5bn) CRO market - as well as its ability to offer complete package services from the pre-clinical stage through to market.
"Covance has been a proactive market participant in moving from transactional relationships to strategic alliances with its clients, accelerated through preferred supplier relationships and partnerships," said Barath Shankar, Research Analyst, Frost & Sullivan.
"Anchored by market leadership in toxicology and central laboratory services, Covance offers a complete set of services that help take the time, cost and risk out of drug development," he said.
Meanwhile, Frost & Sullivan selected Kendle International as the recipient of the North American CRO Business Development Strategy Leadership of the Year Award in recognition of its "accelerated growth and and acquisitions and success as a top-tier CRO in the highly competitive global clinical development market."
The firm, with core competencies in global clinical development, regulatory affairs, biometrics and late phase studies has "aligned its business strategies to satisfy the specific needs of varied customers and is well positioned to leverage the vast opportunity that exists for outsourcing of global clinical development services," said Shankar.
Frost & Sullivan said the recipients of its Best Practices Awards were chosen by industry analysts who compared market participants and measured performances through in-depth interviews, analysis, and extensive secondary research.