Covance closes transaction at $145 mn to acquire Merck's Gene Expression Lab

Covance has closed its transaction with Merck to provide a broad array of genomics analysis services under a five-year $145 million contract and to acquire Merck's Seattle-based Gene Expression Laboratory. Effective August 17, 2009, Covance assumed control of the facility and the Seattle team has joined Covance.

Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with annual revenues greater than $1.7 billion, global operations in 25 countries, and more than 10,000 employees worldwide.