Lilly cleared to sell US facility to Covance
US drug major Eli Lilly has been cleared by the Federal Trade Commission to sell its Greenfield, Indiana, research facility to Covance, a provider of development services, for $50.0 million.
The move is part of a $1.6 billion, 10-year deal between the drug major and Covance to restructure Lilly's R&D facilities (Marketletter August 11). The New Jersey-based development firm will use the facility to conduct clinical trial work for Lilly among other biotechnology and pharmaceutical companies.
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