Thermo Fisher Scientific and Lilly Announce Expanded Clinical Trial Materials Relationship
WALTHAM, Mass. & INDIANAPOLIS, Mar 26, 2010 (BUSINESS WIRE) -- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, and biopharmaceutical company Eli Lilly and Company (NYSE: LLY), announced today that they have expanded their clinical trial materials supply chain relationship. As part of a new five-year agreement, the Fisher Clinical Services business of Thermo Fisher will take over responsibility for Lilly's in-house clinical trial materials manufacturing, packaging and labeling operations on-site at the Lilly Technology Center - North in Indianapolis. This transition is expected to be completed in the summer of 2010.
Additionally, by the end of 2010, Fisher Clinical Services will handle the distribution of clinical trial materials for Lilly throughout North America. The agreement includes Fisher Clinical Services' purchase of Lilly's clinical trial manufacturing and packaging equipment. This relationship was expanded to support Lilly's new operating model, which is designed to speed the delivery of innovative medicines to patients while helping Lilly to reduce some of its fixed costs. Lilly employees impacted by this expanded agreement and qualified individuals in the Indianapolis community will have the opportunity to apply for roles with Fisher Clinical Services.
"We are delighted to strengthen our relationship with Lilly by embarking on this truly innovative collaboration in support of their clinical trials materials supply chain," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "This agreement offers both companies many opportunities for process improvement and technological innovation, all with the purpose of assuring that patients around the world receive their clinical trial medicines and supplies quickly and efficiently. We are also excited to have access to a highly skilled workforce in Indianapolis to enhance our highly regarded team of employees."
"In addition to establishing a first-ever presence in Indianapolis for Fisher Clinical Services, a business unit of Fortune 300 company Thermo Fisher Scientific, this expanded relationship will also extend some employment opportunities with Fisher Clinical Services to those impacted by the transition," said Bart Peterson, senior vice president corporate affairs and communications for Lilly.
"Lilly and Fisher Clinical Services have a two-decade history of working well together and we believe this expanded agreement is the best way to ensure that high quality clinical trial material is getting to clinical trial sites around the world as efficiently as possible, while also leveraging our FIPNet (fully integrated pharmaceutical network) strategy of collaboration in those areas that are not considered strategic or core for Lilly to own," said Ralph Lipp, PhD, vice president pharmaceutical sciences research and development for Lilly. "Transitioning work like the manufacturing, packaging and labeling of clinical trial materials to Fisher Clinical Services helps us also reach Lilly's corporate goals of reducing the costs of drug development and speeding innovative medicines to patients."
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science. Our mission is to enable our customers to make the world healthier, cleaner and safer. With revenues of more than $10 billion, we have approximately 35,000 employees and serve customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as in environmental and process control industries. We create value for our key stakeholders through two premier brands, Thermo Scientific and Fisher Scientific, which offer a unique combination of continuous technology development and the most convenient purchasing options. Our products and services help accelerate the pace of scientific discovery, and solve analytical challenges ranging from complex research to routine testing to field applications. Visit www.thermofisher.com.
About Eli Lilly and Company
Lilly (NYSE: LLY), a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers - through medicines and information - for some of the world's most urgent medical needs. Additional information about Lilly is available at http://www.lilly.com/.
This press release contains forward-looking statements about the potential of the announced relationship between the parties and reflects their current beliefs. However, these statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. Factors that might cause such a difference include, among others, the risks inherent in pharmaceutical development and manufacturing, which is highly regulated. For further discussion of these and other risks and uncertainties, see filings with the United States Securities and Exchange Commission by Lilly and Thermo Fisher Scientific Inc. Neither Lilly nor Thermo Fisher Scientific Inc. undertakes any duty to update forward-looking statements.