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Lilly sells manufacturing site to Covance, signs R&D contract

Executive Summary

Eli Lilly announced that it has sold to CRO Covance its 450-acre preclinical drug development facility in Greenfield, Indiana for $50mm up front. The companies have also entered into an agreement where Covance will provide Lilly with various drug development services over the next ten years, a partnership valued at about $1.6bn.
Deal Industry
  • Contract Research, Toxicology Testing-CRO
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Payment Includes Cash

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