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news.Covance has purchased GFI Clinical Services from West Pharmaceutical Services for $5.7 million. The company expects that the deal will add to its phase I testing capacity.
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GFI Clinical Services an 80-bed facility based in Evansville, Indiana, will now be part of Covance Clinical Research Unit Inc, and will be known as Covance GFI Research.
“Covance has been looking to expand its clinical pharmacology presence in North America and GFI helps fill that need with a high quality asset,” says Covance CEO Joe Herring. “With continued high demand in the clinical pharmacology market, we’re pleased to have found a CRU with similar expertise and reputation in handling high-end, complex studies.”
In a statement on behalf of its 100 staff, GFI said that it was excited about the prospect of enhancing its clinical capabilities as a result of the purchase.
Covance, with headquarters in Princeton, New Jersey, is one of the world’s largest drug development services companies with annual revenues greater than $1 billion, global operations in 17 countries, and approximately 7,000 employees worldwide.