QUINTILES REPORTS 3Q NET REVENUE OF $440.1 MILLION, UP 9% FROM 2003

RESEARCH TRIANGLE PARK, N.C. – November 12, 2004 – Quintiles Transnational Corp. today announced financial results for the quarter ended Sept. 30, 2004. Net revenue for third quarter 2004 was $440.1 million, an increase of 9% from net revenue of $403.5 million for the same
period in 2003. Net income for third quarter 2004 was $34.5 million versus a loss of $16.8 million for third quarter 2003.

"Our strong performance in winning new business – which began more than two years ago and is continuing – is driving revenue growth as more projects get under way," said Quintiles Transnational Chief Financial Officer John Ratliff. "The volume of work we are winning and performing illustrates customer confidence in Quintiles' ability to add value to their products. We also are pleased with our very strong cash position, which exceeds a half-billion dollars."

As of Sept. 30, 2004, Quintiles had cash, cash equivalents, marketable securities and debt investments valued at $588 million, of which $549 million was cash and cash equivalents.

During third quarter 2004, Quintiles and Bradley Pharmaceuticals, Inc. (NYSE: BDY) completed the previously announced sale of certain assets relating to its Bioglan Pharmaceuticals business to Bradley for $188.3 million in cash, which resulted in an after-tax gain for Quintiles of $53.8 million.

Also during the quarter, Eli Lilly and Company and Quintiles began co-promoting Lilly's new treatment for depression, Cymbalta, which received U.S. regulatory approval in August. Through its contract sales organization, Innovex, Quintiles is providing more than 500 sales representatives to help Lilly's substantial sales force promote Cymbalta in the United States for five years. In exchange, Quintiles will receive royalties from net sales of Cymbalta for depression and other neuroscience indications for eight years.

In order to facilitate an understanding of the third quarter 2004 results in comparison to the third quarter 2003 results, Quintiles' Predecessor and Successor results are discussed on a combined basis in this press release. The table attached to this press release presents a reconciliation of the Predecessor and Successor results to the combined results.

Quintiles Transnational's third quarter 2004 financial briefing will be held at 3:00 p.m. EST on Friday, Nov. 12, and will be broadcast live over the Web. The webcast or replay, which will be available through 5:00 p.m. EST Nov. 26, can be accessed at www.quintiles.com/Corporate_Info/Broadcast_Center.

Quintiles helps improve healthcare worldwide by providing a broad range of professional services, information and partnering solutions to the pharmaceutical, biotechnology and healthcare industries. Headquartered near Research Triangle Park, North Carolina, Quintiles has offices in 50 countries and is the world's leading pharmaceutical services organization. For more information visit the company's Web site at www.quintiles.com.

The schedules attached to this release are an integral part of this release. Information in this press release contains "forward looking statements" about Quintiles. These statements involve risks and uncertainties that could cause actual results to differ materially, including, without limitation, the ability to maintain large customer contracts or to enter into new contracts, changes in trends in the pharmaceutical industry, the risk that the market for our products and services will not grow as we expect, the risk that our PharmaBio transactions will not generate revenue or profit at the rate or levels we anticipate or that royalty revenues under the PharmaBio agreements may not be adequate to offset Quintiles' upfront and ongoing expenses in providing sales and marketing services or in making milestone and marketing payments, our ability to fulfill our obligations under our financing arrangements and the potential impact on our operations, our ability to efficiently distribute backlog among project management groups and match demand to resources, actual operating performance, variation in the actual savings and operating improvements resulting from previous restructurings, and the ability to operate successfully in new lines of business. Additional factors that could cause actual results to differ materially are discussed in the company's recent filings with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K, its Form 8-Ks, and its other periodic reports, including Form 10-Qs.

Contacts

Greg Connors, Investor Relations
Office: +1 919 998 2000

Pat Grebe, Media Relations
919 998 2091