Covance Buys Eli Lilly Plant

Covance, Inc. purchased a partially constructed manufacturing facility in Prince William County’s Technology Park from Eli Lilly. The company intends to transform the current facility into a 410,000-sq.-ft. state-of-the-art early drug development lab offering safety testing and chemistry analysis services.

“The increased demand from our biopharmaceutical clients for our preclinical safety service offerings has led Covance to seek opportunities to enhance and expand our operations in Northern Virginia and build upon our multi-year global expansion plans,” said Wendel Barr, Covance senior vice president and president of early development North America. “For 60 years, Covance operations in Northern Virginia have made significant contributions to the development of new medicines for HIV/AIDS, breast cancer, heart disease, leukemia, diabetes, Alzheimer’s, multiple sclerosis, cystic fibrosis, deadly infections, and many other debilitating diseases. With our long history in the area, we are looking forward to continuing our relationships as a member of the community as well as contributing to the diversification of the local economy.”

Covance plans to relocate approximately 450 current employees from its existing operations in Vienna, VA and Chantilly, VA by 2011, and hire an additional 100 employees by 2014. The company plans to invest approximately $175 million in the project. Covance expects to receive approximately $3.7 million in financial incentives from the Commonwealth of Virginia and Prince William County.