« Return to News | CROs/Service Providers

Encorium Plans Sale to Pierrel SpA

Tuesday, May 19, 2009 09:28 AM

Just a week after announcing plans to sell the assets of its U.S. business to a global based contract research organization (CRO), Wayne, Pa.-based Encorium Group has scrapped those original plans and signed a letter of intent with another international CRO.

Encorium has signed a non-binding letter of intent to sell its U.S. operations to Italy-based Pierrel SpA. Under the terms of the agreement, Pierrel has the right to purchase the U.S. line of business for a purchase price equal to a percentage of the company’s U.S. backlog calculated as of the closing or $1.35 million, whichever is greater. Pierrel also will pay Encorium a 10% commission on the value of any new contract executed between the closing date and December 31, 2009.

Encorium also announced last week plans to sell the assets of its European subsidiary to a full-service CRO based in the U.S. The company did not update those plans.

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

September 30

Novartis-Walgreens pilot study blurring the line between retail pharmacy, investigative site

CISCRP to launch traveling science museum exhibit to demystify clinical trial participation

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

October

New growth and decline in Asia clinical trials
South Korea, Japan, China see big growth in 1572s, while India posts huge drop

Harnessing Big Data to transform clinical trials
From protocol to patient recruiting, data analytics can yield valuable insights

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

September

Sponsors look to collaborate on comparator drugs
Co-therapies, comparators are in 60% of studies, cost $25m per company a year

Early adopters implement risk-based monitoring pilot programs
Experiments aim to offer long-term solutions, despite short-term uncertainties

Already a subscriber?
Log in to your digital subscription.

Purchase the September issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.