10-Year Strategic R&D Alliance, Including Divestment of Two R&D Sites to Covance
PharmaVentures acts as exclusive advisor to Sanofi-Aventis in landmark divestment deal with Covance.
Oxford, UK. 01 October 2010
PharmaVentures are pleased to announce that they acted as transaction advisors and sale process executioners for sanofi-aventis in their strategic deal with Covance. Under the terms of the agreement, sanofi-aventis will retain access to some of the capabilities which have been divested to Covance as part of a long-term strategic alliance. Covance will provide sanofi-aventis with a 10-year sole source relationship for central lab services.
PharmaVentures has built considerable experience in the M&A field including divestments of manufacturing and R&D businesses. Fintan Walton, CEO, PharmaVentures Ltd said: “The pharmaceutical industry is undergoing a significant transformation with more complex deal structures. The engagement with sanofi-aventis capitalized on PharmaVentures vast experience in complex strategic partnerships and deal transactions”.
Over the past 19 years, PharmaVentures has acted as advisor to over 600 global pharmaceutical and biotechnology clients in transactions covering licensing, merger, acquisition, divestment and joint venture activities for companies.