Covance signs R&D accord with Eli Lilly
Covance, a US provider of development services, has signed an agreement with Eli Lilly to help transform the drug major's R&D model. Covance will acquire Lilly's 450-acre early drug development campus in Greenfield, Indiana, for $50.0 million. It will also supply Lilly with a broad-range of drug development services over the next 10 years for a contract value of $1.6 billion, and will assume ownership of the site and operations on or about October 1.
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