Covalent Group Announces Contract for $9.1 Million to Perform Integrated Drug Development Services for Bertek Pharmaceuticals, Inc.

Apr 18, 2001, 01:00 ET from Covalent Group, Inc.

    WAYNE, Pa., April 18 /PRNewswire/ -- Covalent Group, Inc. (Nasdaq:   CVGR)
 announced today a new contract for $9.1 million to perform integrated drug
 development and consultative services for nebivolol, the first in a new
 generation of beta blockers for the treatment of hypertension.  This multi-
 national program will commence immediately.  Patients will be recruited from
 the United States, Canada, the United Kingdom, and Western Europe.  Covalent
 Group's responsibilities for this program are extensive and include:
 
     --   program design and development
     --   consultative services including access to Covalent's
          world-recognized Cardiovascular Advisory Board
     --   development and oversight of an extensive molecular biology and
          basic science program
     --   regulatory affairs and operations
     --   project management, field monitoring, data management,
          biostatistics, and quality assurance tasks
     --   investigator and patient recruitment
     --    medical writing including clinical study reports
     --   management of third party vendors including drug packagers, clinical
          laboratories and medical communications companies
     --   interactive voice recognition (IVR) and web-enabled clinical trial
          management
     --   integration of clinical and marketing strategies.
 
     Nebivolol, which is currently marketed for hypertension in 30 countries
 outside North America, has recently been in-licensed by Bertek
 Pharmaceuticals, Inc., the brand division of Mylan Laboratories, for
 development and subsequent marketing in the United States and Canada.  James
 Mauzey, Bertek's President stated,  "Licensing nebivolol is particularly
 exciting for Bertek because we believe it can be clearly differentiated from
 other beta blockers.  Nebivolol has a unique dual mechanism of action that
 encompasses both highly selective beta-1 adrenoceptor blockade and nitric
 oxide release.  Bertek Pharmaceuticals looks forward to continuing our very
 positive ongoing relationship with the Covalent Group to conduct and complete
 Phase II and Phase III clinical trials for our regulatory submission (NDA) of
 nebivolol."
     Kenneth M. Borow, M.D., Chief Executive Officer for Covalent commented,
 "Covalent's signing of this contract, the first of several new contracts
 expected to be signed with Bertek Pharmaceuticals, represents the continuation
 of over two years of collaboration with Bertek/Mylan on both the scientific
 and clinical development of nebivolol.  It also continues our four-year
 relationship with Mylan Laboratories.  This contract highlights the value that
 Covalent brings to its clients by integrating our exceptional consultative
 skills and operational excellence with our state-of-the-art clinical trial
 management systems.  It once again demonstrates Covalent's ability to attract
 and sign major research programs.  Contract revenues will be recognized on the
 percentage of completion basis over the two year life of the contract."
     The Covalent Group is a comprehensive research management and drug
 development organization.  Through its consultative, operational and
 technologic expertise, Covalent Group is a leader in setting the standard in
 new approaches to drug development and clinical trial safety.  In addition,
 through its SpeedTrials collaboration and its proprietary TeleTrial(R)
 interactive speech recognition system, Covalent is on the cutting edge of
 advanced clinical trial processes.
     This press release contains forward-looking statements identified by words
 such as "believe," "expect," and similar expressions.  Actual results might
 differ materially from those projected in, expressed in or implied by the
 forward-looking statements.  Potential risks and uncertainties that could
 affect the Company's future operation results include, without limitation:
 (i) the Company's success in attracting new business; (ii) the size, duration,
 and timing of clinical trials; and (iii) the termination, delay or
 cancellation of clinical trials.  Additional information concerning factors
 that could cause actual results to materially differ from those in forward
 looking statements is contained in Covalent's SEC filings, including its
 Annual Report on Form 10-KSB and other periodic reports under the Securities
 Exchange Act of 1934, as amended, copies of which are available upon request
 from Covalent's investor relations department.
 
     Company Contact:  Thomas Dean, Investor Relations, 212-421-2545
     Contact us on-line:  http://www.covalentgroup.com
 
 

SOURCE Covalent Group, Inc.
    WAYNE, Pa., April 18 /PRNewswire/ -- Covalent Group, Inc. (Nasdaq:   CVGR)
 announced today a new contract for $9.1 million to perform integrated drug
 development and consultative services for nebivolol, the first in a new
 generation of beta blockers for the treatment of hypertension.  This multi-
 national program will commence immediately.  Patients will be recruited from
 the United States, Canada, the United Kingdom, and Western Europe.  Covalent
 Group's responsibilities for this program are extensive and include:
 
     --   program design and development
     --   consultative services including access to Covalent's
          world-recognized Cardiovascular Advisory Board
     --   development and oversight of an extensive molecular biology and
          basic science program
     --   regulatory affairs and operations
     --   project management, field monitoring, data management,
          biostatistics, and quality assurance tasks
     --   investigator and patient recruitment
     --    medical writing including clinical study reports
     --   management of third party vendors including drug packagers, clinical
          laboratories and medical communications companies
     --   interactive voice recognition (IVR) and web-enabled clinical trial
          management
     --   integration of clinical and marketing strategies.
 
     Nebivolol, which is currently marketed for hypertension in 30 countries
 outside North America, has recently been in-licensed by Bertek
 Pharmaceuticals, Inc., the brand division of Mylan Laboratories, for
 development and subsequent marketing in the United States and Canada.  James
 Mauzey, Bertek's President stated,  "Licensing nebivolol is particularly
 exciting for Bertek because we believe it can be clearly differentiated from
 other beta blockers.  Nebivolol has a unique dual mechanism of action that
 encompasses both highly selective beta-1 adrenoceptor blockade and nitric
 oxide release.  Bertek Pharmaceuticals looks forward to continuing our very
 positive ongoing relationship with the Covalent Group to conduct and complete
 Phase II and Phase III clinical trials for our regulatory submission (NDA) of
 nebivolol."
     Kenneth M. Borow, M.D., Chief Executive Officer for Covalent commented,
 "Covalent's signing of this contract, the first of several new contracts
 expected to be signed with Bertek Pharmaceuticals, represents the continuation
 of over two years of collaboration with Bertek/Mylan on both the scientific
 and clinical development of nebivolol.  It also continues our four-year
 relationship with Mylan Laboratories.  This contract highlights the value that
 Covalent brings to its clients by integrating our exceptional consultative
 skills and operational excellence with our state-of-the-art clinical trial
 management systems.  It once again demonstrates Covalent's ability to attract
 and sign major research programs.  Contract revenues will be recognized on the
 percentage of completion basis over the two year life of the contract."
     The Covalent Group is a comprehensive research management and drug
 development organization.  Through its consultative, operational and
 technologic expertise, Covalent Group is a leader in setting the standard in
 new approaches to drug development and clinical trial safety.  In addition,
 through its SpeedTrials collaboration and its proprietary TeleTrial(R)
 interactive speech recognition system, Covalent is on the cutting edge of
 advanced clinical trial processes.
     This press release contains forward-looking statements identified by words
 such as "believe," "expect," and similar expressions.  Actual results might
 differ materially from those projected in, expressed in or implied by the
 forward-looking statements.  Potential risks and uncertainties that could
 affect the Company's future operation results include, without limitation:
 (i) the Company's success in attracting new business; (ii) the size, duration,
 and timing of clinical trials; and (iii) the termination, delay or
 cancellation of clinical trials.  Additional information concerning factors
 that could cause actual results to materially differ from those in forward
 looking statements is contained in Covalent's SEC filings, including its
 Annual Report on Form 10-KSB and other periodic reports under the Securities
 Exchange Act of 1934, as amended, copies of which are available upon request
 from Covalent's investor relations department.
 
     Company Contact:  Thomas Dean, Investor Relations, 212-421-2545
     Contact us on-line:  http://www.covalentgroup.com
 
 SOURCE  Covalent Group, Inc.