On March 18th, 2009; the Jina team successfully completed the sale of Swiss Pharma Contract Ltd ("SPC") to Covance Inc ("CVD").
The Basel, Switzerland based SPC was owned by management, private shareholders and Novartis Venture Fund. The deal was completed at the bottom of the financial collapse and still delivered a premium valuation to both shareholders and the Novartis Venture Fund.
Covance has repeatedly stated that the SPC acquisition was the Company's best strategic growth decision of 2009, as it provides Covance with excellent medical leadership and a strong European footprint for early stage growth.
Covered in the news:
http://www.outsourcing-pharma.com/Clinical-Development/Covance-boosts-Phase-I-capacity-with-SPC-buy
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