Covance And Lilly Finalize 10-Year, $1.6B Strategic R&D Collaboration

Covance Inc., one of the world's largest and most comprehensive drug development services companies, recently announced that it has closed its transaction with Eli Lilly and Company to provide a broad-range of drug development services over the next ten years and to purchase Lilly's 450-acre early drug development campus in Greenfield, Indiana. Effective midnight tonight, Covance will assume control of the Greenfield campus and 264 Lilly employees will be working for Covance.

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 $1.5B, global operations in more than 20 countries, and more than 9,000 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.

SOURCE: Covance Inc.