Covance enters $2.2 bn R&D alliance with Sanofi-Aventis

Contract research organisation Covance has forged a long-term $2.2 billion drug development alliance with French drugmaker Sanofi-Aventis that will see two research facilities changing hands.

Under the terms of the deal, Covance will provide R&D support to Sanofi-Aventis over a 10-year period, with estimated service payments of between $1.2 billion and $2.2 billion.

In addition, Sanofi-Aventis is selling its R&D facilities in Porcheville, France and Alnwick, UK, to the CRO for a nominal figure of $25 million. Covance has committed to maintaining employment at the sites for five years.