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Covance buys Sanofi facilities and signs 10-year contract
01 Nov 2010
Executive Summary
Sanofi-Aventis has sold two of its research sites in Europe to CRO Covance Inc. for $25mm. The Big Pharma has also committed to using Covance as its primary drug development partner for the next ten years in a service-based deal that could be worth between $1.2-$2.2bn for Covance (including $350mm guaranteed over the next five years).
Deal Industry
- Contract Research, Toxicology Testing-CRO
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Payment Includes Cash
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Covance buys Sanofi facilities and signs 10-year contract
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