In an update from a previous post, Eli Lilly, after deciding to cut costs as a result of the current economic climate, choose to sell their Greenfield Laboratories in
“Today's announcement represents an innovative approach to the R&D productivity challenges our pharmaceutical clients are facing,
Herring was also quoted as saying that it
"carves a new path to growth for both Covance and the CRO industry.”
The article continues by mentioning that Herring also was noted as stating that this marks a shift in dynamic where companies are changing from being a “fully-integrated pharmaceutical company” to a “fully-integrated pharmaceutical network”.
This new development is in line with what many of our previous posts have said about the changing environment for pharmaceutical companies who are starting to outsource more of their research and development to contract research organizations.
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