Covance Signs 10-Year Deal With Sanofi, Buys Sites
November 11, 2010 | Covance has closed its transactions with sanofi-aventis to become its R&D partner over the next 10 years and to purchase sanofi-aventis' Porcheville, France and Alnwick, United Kingdom sites. Covance has assumed control of the Porcheville and Alnwick sites and all sanofi-aventis employees transferred on that date at both facilities are now Covance employees. The transaction, first announced on September 30, is expected to generate estimated revenues ranging from $1.2 billion to $2.2 billion over the course of the agreement. Covance