Thermo Fisher to Do More Lilly Clinical Trial Work
From Associated Press (March 26, 2010)
WALTHAM, Mass. -- Thermo Fisher Scientific said Friday it has expanded its partnership with drug maker Eli Lilly and Co. to help with clinical trials.
Thermo Fisher’s Fisher Clinical Services business will take over clinical trial materials manufacturing, packaging and labeling operations in Indianapolis.
The Waltham, Mass., company also will purchase Eli Lilly’s clinical trial manufacturing and packaging equipment and handle North American distribution of clinical trial materials.
Eli Lilly spokeswoman Christine Van Marter said Fisher Clinical will move into the Lilly’s Indianapolis technology center but won’t purchase it. She said 115 Eli Lilly employees -- including 80 full-time workers -- will have to apply for jobs with Fisher Clinical.
The expanded relationship is meant to help Lilly speed drug development and reduce fixed costs.
Eli Lilly had 40,360 worldwide employees at the end of 2009.
Eli Lilly shares fell 16 cents to $35.82 Friday. Shares of Thermo Fisher Scientific Inc. fell one cent to $50.39.
Posted: March 2010