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The contract research organization sector continues its march toward consolidation of its biggest companies, with a pair of acquisitions totaling $1.5 billion announced since yesterday. LabCorp today disclosed plans to buy Chiltern for approximately $1.2 billion cash, then fold the company into its Covance business segment, which the buyer acquired in 2014 . The combined company will have about $10 billion in revenues—nearly half of which, or $4 billion, will come from CRO activity—and a broader focus on serving smaller as well as larger biopharmas. “The addition enhances Covance’s offerings as a major partner serving the top 20 biopharma segment, and expands our current offering to include a dedicated focus on the high-growth emerging and mid-market biopharma segments,” Covance CEO John Ratliff said in a statement. “Since LabCorp acquired Covance, we have grown the CRO business to nearly $3 billion in annual revenue. We now join ...NEXT ARTICLE
Clinical Research Organization
Contract Research Organization (CRO) provide research services outsourced on a contract basis to the pharmaceutical, biotechnology, healthcare and medical device industries: biopharmaceutical development biologic assay development commercial...
Alliances Astrazeneca Bioethics Boehringer Clinical Research Organization Collaborations GSK Johnson & Johnson Lilly Merck Mergers and Acquisitions Nexium Novartis Pfizer Roche Sanofi ...
Collaborations in biotechnology
Commercial and academic collaborations are used throughout the biotechnology and pharmaceutical sector to enhance research and product development. Collaborations can take the form of research and evaluation agreements, licensing, partnerships etc. ...