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Covance to buy Eli Lilly site

August 07, 2008|From Times Wire Services

Drug-development services company Covance Inc. will buy an Indiana research center from Eli Lilly & Co. and enter a 10-year service deal with the drug maker worth $1.6 billion.

Princeton, N.J.-based Covance will pay $50 million for Lilly's 450-acre drug development campus in Greenfield, Ind. Lilly is headquartered in Indianapolis.

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