Covance Inc. is a drug development services company providing a range of early-stage and late-stage product development services on a worldwide basis primarily to the pharmaceutical, biotechnology and medical device industries. The Company also provides laboratory testing services to the chemical, agrochemical and food industries. The services it provides constitutes two segments: early development services, which includes discovery support services, preclinical services and clinical pharmacology services, and late-stage development services, which includes central laboratory, Phase II-IV clinical development, and market access services. In 2011, Covance acquired certain assets of TRAC Microbiology, Inc., a food microbiology and chemistry laboratory. In May 2014, the Company acquired Medaxial.