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Fisher Scientific Completes Acquisition of Pharmaceutical Packaging Services Business from Covance Inc.

Fisher Enhances Outsourcing Service Capabilities

HAMPTON, N.H., Feb. 14 /PRNewswire/ --

Fisher Scientific International Inc. (NYSE: FSH), the world leader in serving science, announced today that it has completed the acquisition of the pharmaceutical packaging services business of Covance Inc. (NYSE: CVD) for $137.5 million, and has renamed it Fisher Clinical Services Inc.

(Photo: http://www.newscom.com/cgi-bin/prnh/20001109/NETH006 )

Fisher Clinical Services is a worldwide, leading provider of contract packaging services for clinical trials to major pharmaceutical and biotechnology companies, with cGMP (current Good Manufacturing Practices) manufacturing and packaging facilities in Allentown, Pa.; Basel, Switzerland; and Horsham, U.K.

Fisher Clinical Services enhances the company's current service offerings that include contract formulation and packaging of pharmaceutical, diagnostic and biotech products; custom synthesis for drug discovery; and manufacturing and sourcing of fine, organic and synthetic chemicals. Fisher also is the leading worldwide supplier of virtually all the products, supplies and equipment necessary to operate a research laboratory.

Fisher Scientific International Inc.

As the world leader in serving science, Fisher Scientific (www.fishersci.com) is the global source of laboratory supplies and equipment, e-commerce procurement technology and related services for research, healthcare, science education and occupational safety. Alchematrix (www.alchematrix.com), a business-to-business e-commerce subsidiary of Fisher Scientific, incorporates all of the capabilities and functionalities of fishersci.com, the world's largest and most comprehensive virtual marketplace for buying scientific supplies.

This announcement includes forward-looking statements. Fisher Scientific has based these forward-looking statements on their current expectations and projections about future events. Although Fisher Scientific believes that its assumptions made in connection with the forward-looking statements are reasonable, no assurances can be given that their assumptions and expectations will prove to have been correct. These forward-looking statements are subject to various risks, uncertainties and assumptions. Fisher Scientific undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this announcement might not occur.

Note to Editors: Today's news release, along with other news about Fisher Scientific is available on the Internet at www.fisherscientific.com.
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Publication:PR Newswire
Geographic Code:1USA
Date:Feb 14, 2001
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