Covance and Lilly Honored with Alliance Excellence Award

PRINCETON, N.J. and INDIANAPOLIS, May 8, 2014 /PRNewswire/ — Covance Inc.
(NYSE: CVD) and Eli Lilly and Company (NYSE: LLY) were recently honored by the
Association of Strategic Alliance Professionals (ASAP) with a 2014 Alliance
Excellence Award for a long established alliance. The two companies were
recognized for their transformative collaboration that has infused greater
efficiency and quality into the drug development process and enabled new
medicines to advance to market sooner.

“Our awards committee was impressed by the many ways in which this
groundbreaking alliance continues to evolve–utilizing best practices in
alliance management, harnessing technologies, building a collaborative culture,
and investing in process innovation,” said Michael Leonetti, ASAP president and
CEO. “We also commend this partnership’s willingness to share their knowledge
and experiences, and further contribute to the advance of the alliance
management profession.”

As a result of this unique alliance, Covance and Lilly completed more than
11,000 studies in support of discovery research and more than 500 toxicology
studies supporting nearly 50 different molecules. More than 800 studies have
been conducted spanning late stage development, including clinical, central
laboratories, genomics, biomarkers and companion diagnostics. Joint training
programs ensure that the companies maintain leading edge competencies given the
highly competitive global pharmaceutical market.

“We are five years strong into our industry-pioneering alliance with Covance,
designed to support the transformation of our R&D model,” commented Andrew
Dahlem, Ph.D., vice president, chief operating officer, Lilly Research
Laboratories (LRL) and LRL Europe. “Working together, we have improved research
and development efficiencies, reduced costs, and accelerated drug development
timelines by as much as 50 percent. Ultimately, we are measuring success against
our most important goal – to speed quality, innovative medicines to patients.”

In 2008, as part of the original agreement, Lilly transferred their Greenfield,
Ind. facility and approximately 250 employees to Covance. With the addition of
300 new jobs and seven new services since, the Covance Greenfield site now
supports development innovation for over 150 biopharmaceutical companies, in
addition to Lilly, with expanded services that include biomarkers, biologic
compounds, bioanalysis, and a full biorepository to help companies efficiently
store biosamples. The Greenfield operations combined with the multiplied effects
of those operations involving other companies are estimated to have added 564
jobs, $35.7 million in wages annually, and $102.4 million in annual output to
the state of Indiana, according to a report by Crowe Horwath.

“Receiving this award is not only an important endorsement of our business
strategy, it also reflects the dedication and expertise of the employees who
have been the driving force behind this strategic partnership,” added John
Watson, President, Strategic Partnering, and Chief Commercial Officer, Covance.
“As a result of our connected and forward-thinking partnership, the alliance
continues to exceed expectations and deliver enormous value to both Lilly and
Covance.”

About Covance Inc.
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 $2.4 billion and more than 12,500 employees located in
over 60 countries. Information on Covance’s products and services, recent press
releases, and SEC filings can be obtained through its website at
www.covance.com.

About Eli Lilly and Company
Lilly is a global healthcare leader that unites caring with discovery to make
life better for people around the world. We were founded more than a century ago
by a man committed to creating high-quality medicines that meet real needs, and
today we remain true to that mission in all our work. Across the globe, Lilly
employees work to discover and bring life-changing medicines to those who need
them, improve the understanding and management of disease, and give back to
communities through philanthropy and volunteerism. To learn more about Lilly,
please visit us at www.lilly.com and http://newsroom.lilly.com/social-channels.

C-LLY

Media Contacts:
Lilly: Karen Glowacki (Tel. 317.433.9100, kglowacki@lilly.com)
Covance: Melissa Thompson (Tel. 609.452.4082, melissa.thompson1@covance.com)

Forward-Looking Statements
Statements contained in this press release, which are not historical facts, are
forward-looking statements pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. All such forward-looking statements
are based largely on management’s expectations and are subject to and qualified
by risks and uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. These risks and
uncertainties include, without limitation, factors described in the Company’s
filings with the Securities and Exchange Commission including its Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q. The Company undertakes no duty
to update any forward-looking statement to conform the statement to actual
results or changes in the Company’s expectations.

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SOURCE Eli Lilly and Company; Covance Inc.

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