LabCorp, Covance and INC Research – combined, does this equal a new, full-service giant in the drug services space?Bloomberg reports there may not be enough synergy with Covance’s lab services for LabCorp to get their money’s worth. Bloomberg was clearly distracted by a squirrel and missed the point. The potential deal’s strategic value isn’t in the labs business. The value comes from adding INC’s Phase II/III development capabilities; an historical weakness in the Covance business. Now, LabCorp may have maxed out its credit card for the Covance takeover but that’s a different issue. It will be interesting to see what unfolds as they balance debt with the search for a partner that appeals to their stakeholders.