Covance and sanofi-aventis Finalize Agreements for 10-year Strategic R&D Alliance

PRINCETON, New Jersey, October 29, 2010 - Covance Inc (NYSE: CVD) today announced that it has closed its
transactions with sanofi-aventis to become its R&D partner over the next 10
years and to purchase sanofi-aventis' Porcheville, France and Alnwick, United
Kingdom sites. Covance has assumed control of the Porcheville and Alnwick
sites and all sanofi-aventis employees transferred on that date at both
facilities are now Covance employees. The transaction, first announced on
September 30, is expected to generate estimated revenues ranging from
US$1.2 billion to US$2.2 billion over the course of the agreement.

Covance, with headquarters in Princeton, New Jersey, is one of the
world's largest and most comprehensive drug development services companies
with annual revenues greater than US$1.8 billion, global operations in more
than 30 countries, and more than 10,000 employees worldwide. Information on
Covance's products and services, recent press releases, and SEC filings can
be obtained through its website at www.covance.com.

Statements contained in this press release, which are not historical
facts, such as statements about prospective earnings, savings, revenue,
operations, revenue and earnings growth and other financial results are
forward-looking statements pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All such forward-looking
statements including the statements contained herein regarding anticipated
trends in the Company's business are based largely on management's
expectations and are subject to and qualified by risks and uncertainties that
could cause actual results to differ materially from those expressed or
implied by such statements. These risks and uncertainties include, without
limitation, competitive factors, outsourcing trends in the pharmaceutical
industry, levels of industry research and development spending, the Company's
ability to continue to attract and retain qualified personnel, the fixed
price nature of contracts or the loss of large contracts, risks associated
with acquisitions and investments, the Company's ability to increase order
volume, the pace of translation of orders into revenue in late-stage
development services, and other factors described in the Company's filings
with the Securities and Exchange Commission including its Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q. The Company undertakes no duty
to update any forward looking statement to conform the statement to actual
results or changes in the Company's expectations.

Covance: Media, +1-609-419-2060, or Investors +1-609-452-4807