Please login to the form below

Not currently logged in
Email:
Password:

Covance takes over abandoned Eli Lilly site

US pharmaceutical developer Covance buys Lilly's partially constructed facility to develop a Class A drug development laboratory

US pharmaceutical developer Covance has acquired Eli Lilly's partially constructed facility in the US state of Virginia to develop a Class A drug development laboratory.

Lilly began work on the USD 325m property for insulin manufacturing in 2006, but then abandoned construction halfway through in January 2007, citing changes in its global manufacturing strategy. The company returned approximately USD 5m in economic development incentives it received from the state to construct the 2.8-hectare site.

Covance will invest USD 175m in the project, which includes expanding the facility to about four hectares. It will relocate 450 employees to the property by 2011 from existing operations in Virginia and said it may hire an additional 100 employees by 2014.

Covance will also receive about USD 3.7m in state incentives.

30th September 2008

Share

PMEA Awards 2020

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
Fishawack Health

Fishawack Health is the leading global commercialization partner for the modern life science era. Established in 2001 and headquartered in...

Latest intelligence

01 PME-APR21 Cover.jpg
Virtual congresses: video thrilled the cardio tsar
Chris Ross explores the key learnings from a year of virtual congresses...
When Will We Be Back To Normal?
The definitive question of 2021, whether you’re a homeschooling parent, a homebound professional, a wanderer with nowhere to go… or all three at once....
How to tell your healthcare story.
Healthcare research is not a simple story and the people in charge of those moments need to be careful about the story that they tell....

Infographics