Navigation Links
Covance and Lilly Enter Into a Strategic R&D Collaboration
Date:8/6/2008

- Covance to Acquire Lilly's Greenfield, Indiana Campus for $50 Million

- Covance and Lilly Execute 10-Year, $1.6 Billion Services Contract

PRINCETON, N.J., Aug. 6 /PRNewswire-FirstCall/ -- Covance Inc. (NYSE: CVD), a leading provider of drug development services, announced today that it signed a definitive agreement with Eli Lilly and Company (NYSE: LLY) to help transform Lilly's R&D model. Under the agreement, Covance will acquire Lilly's 450-acre early drug development campus in Greenfield, Indiana for $50 million and will offer employment to about 260 Lilly employees. In addition, Covance will provide Lilly with a broad-range of drug development services over the next ten years for a contract value of $1.6 billion. Under the agreement, Covance will assume ownership of the site and operations on or about October 1, 2008.

"Today's announcement represents an innovative approach to the R&D productivity challenges our pharmaceutical clients are facing," said Joe Herring, Covance Chairman and CEO. "We are very excited to welcome world-class Lilly scientific talent to Covance, and to take possession of valuable state- of-the-art assets, including more than 600,000 square feet of laboratory space, and acquire new service lines that will help us accelerate our long-term, strategic growth plans. Covance will invest in this facility and maximize its capacity utilization by conducting substantial work with Lilly and bring in new work from other pharmaceutical and biotechnology clients. We expect the Greenfield site to be a key contributor to the future growth and success of Covance."

"This strategic agreement is a result of a long-term trust-based relationship between our two companies. Covance has proven they can help acc
'/>"/>

SOURCE Covance Inc.
Copyright©2008 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4

Related medicine news :

1. Covance Recognized for Outstanding Performance by Merck & Co., Inc.
2. Covance Recognized for Outstanding Customer Service by Eli Lilly and Company
3. Covance Inc. Invites You to Join the Webcast of Its Second Quarter 2008 Financial Results Conference Call
4. Covance to Present at the William Blair Growth Stock Conference
5. Covance Elects Joseph C. Scodari to Companys Board of Directors
6. Covance Inc. Invites You to Join the Webcast of Its First Quarter 2008 Financial Results Conference Call
7. Covance to Present at Lehman Brothers 11th Annual Global Healthcare Conference
8. Covance to Present at Raymond James 29th Annual Institutional Investors Conference
9. Covance to Present at UBS Global Healthcare Services Conference
10. Covance to Present at 26th Annual JPMorgan Healthcare Conference
11. Wendel Barr Appointed Chief Operating Officer of Covance

Post Your Comments:
*Name:
*Comment:
*Email:
(Date:11/27/2009)... Specialist manufacturers who...ucts are saving millions of dollars by bringing in...ocess. Increasing numbers of pro-active medical ma...ts at the concept stage of their projects, ensurin...g design processes or potentially outdated technol...
(Date:11/26/2009)... , PRINCETON, N.J., Nov. 27 ... almost double over the next 25 years and annual m... $336 billion, up from $113 billion today, accordi...Diabetes Care . The National Changing Diabetes &...ommissioned the analysis by a team from the Univer...
(Date:11/26/2009)...age that,s too big or too heavy can lead to strain...Day News) -- There may be nothing wrong with stuff...t want to do the same thing with your suitcase as ...people were treated in 2008 in U.S. hospital emerg...dical facilities for luggage-related injuries, suc...
(Date:11/26/2009)... Dr. David Kim of the Live Li...surgery in Dallas , is one of a growing number of ...cial networking sites to connect with individuals ...nt to fight morbid obesity. Dr. Kim is utilizing F...mation about his practice with the community. , ...
(Date:11/26/2009)... Ennis & Ennis, P.A. is o... for users of Yaz and Yasmin birth control pills w...monary Embolism, Stroke, Heart Attack or other rel...ed. Women can call toll free at 1-800-856-6405 or ...slaw.com and fill out an online case evaluation f...
Breaking Medicine News(10 mins):Health News:Pro-active Manufacturers Save Millions with Advanced Flintec Medical Load Cells 2Health News:Pro-active Manufacturers Save Millions with Advanced Flintec Medical Load Cells 3Health News:Pro-active Manufacturers Save Millions with Advanced Flintec Medical Load Cells 4Health News:Diabetes Population to Double, Diabetes Costs to Nearly Triple, in 25 Years, New Study Shows 2Health News:Diabetes Population to Double, Diabetes Costs to Nearly Triple, in 25 Years, New Study Shows 3Health News:Diabetes Population to Double, Diabetes Costs to Nearly Triple, in 25 Years, New Study Shows 4Health News:Pack Right for the Holidays to Avoid the ER 2Health News:Dallas Texas Weight Loss Surgeon Using Social Media To Reach Out to Patients 2Health News:Dallas Texas Weight Loss Surgeon Using Social Media To Reach Out to Patients 3Health News:Ennis & Ennis, P.A. Announces Nationwide Free, Confidential, Consultations For Users Of Yaz And Yasmin Birth Control Pills 2Health News:Ennis & Ennis, P.A. Announces Nationwide Free, Confidential, Consultations For Users Of Yaz And Yasmin Birth Control Pills 3
...g in the October issue of the journal Pediatrics s...lk is more than that of Cow's milk. Dr. Ruth...New York and her colleague Dr. William H. Bowen us... when they were fed sweet liquids like soda and ho...
...ed in the treatment of Multiple Sclerosis (MS), ha...s taking the drug complained of neurological disor...gressive Multifocal Leukoencephalopathy (PML) is b...h work by blocking passage of immune cells in to t...
...rize meant swallowing a glassful of dangerous bact...ssor Barry Marshall however did just that. He swal...ach ulcers are bacterial in origin rather than str...ates for Medicine in the current year. "I didn't t...
...10 countries estimated to have the highest number ...US following closely. Type II Diabetes, one of the...ining // epidemic proportions throughout the world...idity and mortality due to long-term micro and mac...
...as advanced so much to the extent of replacing los...ing artificial implants. These implantable devices...od // alternative to the conventional treatment. ...ality of these tiny, yet useful devices. Designed ...
... been reported at a seniors' home in Toronto and e... have caused the death of four residents at the ho... that there was // no cause to fear an outbreak an... a significant burden of disease," he said. All th...
Other Medicine News:Health News:Nobel For Ulcer-Defying Aussie Scientists 2Health News:A new anti diabetic drug on the anvil 2Health News:Implantable devices to be powered by organosilicon compounds in the future 2
(Date:11/25/2009)... , WESTON, Fla., Nov. 25 /PRNewswire-F...ink Sheets: ASFX) ("the Company") is pleased to an...and production management office in Shanghai, Chin...road, providing an essential gateway for the devel... and safety products for children and adults to be...
(Date:11/25/2009)... , CHICAGO and STAFA, Switzerland, Nov. 25 /...eading manufacturer of innovative hearing solution...e for Adults Conference, focusing on the special n...ht together leading experts in aging and audiology...s who work everyday with older people with hearing...
(Date:11/25/2009)... , RANCHO CORDOVA, Calif., Nov. 25 /PRNewswi...y of American Pacific Corporation (Nasdaq: APFC )...l Responsibility and Sustainability Award at the A... the California Manufacturers and Technology Assoc...ation (IEA) and the Chemical Industry Council of C...
Breaking Medicine Technology:American Scientific Resources Inc. Opens Shanghai Location 2Phonak Successfully Hosts Hearing Care for Adults 2009 Conference 2Phonak Successfully Hosts Hearing Care for Adults 2009 Conference 3AMPAC Fine Chemicals Receives Prestigious Award at California's Annual Statewide Environmental Summit 2AMPAC Fine Chemicals Receives Prestigious Award at California's Annual Statewide Environmental Summit 3Heart Surgeon Shortage Predicted 52975 1Heart Surgeon Shortage Predicted 52975 2Heart Surgeon Shortage Predicted 52975 3Treatment Shows Excellent Results for Providence Tarzana Patients Following Cardiac Arrest 4788 1Treatment Shows Excellent Results for Providence Tarzana Patients Following Cardiac Arrest 4788 2FRC Action to Host Webcast Tonight on the Government Takeover of Health Care 52969 1
... Laboratories is a national reference laboratory a...earch and development. ARUP offers an extensive te... in clinical and anatomic pathology. Owned by the ...lude more than half of the nation's university tea...
... Laboratories is a national reference laboratory a...earch and development. ARUP offers an extensive te... in clinical and anatomic pathology. Owned by the ...lude more than half of the nation's university tea...
... Laboratories is a national reference laboratory a...earch and development. ARUP offers an extensive te... in clinical and anatomic pathology. Owned by the ...lude more than half of the nation's university tea...
... Laboratories is a national reference laboratory a...earch and development. ARUP offers an extensive te... in clinical and anatomic pathology. Owned by the ...lude more than half of the nation's university tea...
Medicine Products: