Eli Lilly’s August 2008 announcement to transfer an early drug development facility to Covance - in addition to more than 240 Lilly employees and a 10-year service contract - signaled the emergence of a new partnership model between CROs and sponsors. The historic deal piqued the interest of R&D executives across the pharmaceutical industry looking for solutions to address their specific needs. This paper outlines some of the innovative solutions designed to help biopharmaceutical companies reduce fixed costs and improve R&D efficiencies through strategic partnership.