MORRISVILLE, NC - November 7, 1995 - Quintiles Transnational Corp. (Nasdaq-NNM: QTRN) announced today the establishment of the Quintiles Emerging Companies Institute to offer small, specialized companies access to a full range of medical product development services and expert consultation. The Quintiles Emerging Companies Institute will provide customized product development services to the emerging companies market segment and will provide growth opportunities for Quintiles' contract research services.
Emerging companies represent a large part of the biotechnology and pharmaceutical market in the United States and are rapidly growing in Europe and Asia Pacific. The Quintiles Emerging Companies Institute will provide early regulatory and scientific consultative services to these companies. Emerging companies may be pharmaceutical, biotechnology or medical device firms. They often have strong academic ties and are incubators for new ideas and leading edge technologies, but seek guidance from firms with more complete infrastructures and extensive drug development experience.
"The research and development needs of the emerging companies sector are growing at a rapid rate," said Sara Brooks Creagh, Executive Vice President. "Quintiles is committed to serving this market as emerging companies are an important part of our growth strategy. Quintiles' worldwide expertise and experience complement the sophisticated product technology and strong academic ties of emerging companies."
The Quintiles Emerging Companies Institute will be directed by James C. Mannion, Ph.D. Mannion previously was vice president, strategic and regulatory services at Quintiles.
"Quintiles' full range of global capabilities are especially suited for the specialized approach that emerging companies need," Mannion said. "We can help them create a customized operating plan with efficiencies and economies to meet aggressive development schedules.
"Emerging companies have limited resources so mistakes can be costly. They need to get their strategy right-from the beginning. Quintiles can help them generate the data needed to make sound product decisions from scientific, business and regulatory perspectives. And with a full array of drug development services, we can build a relationship for the long term."
Headquarted near Research Triangle Park, NC, Quintiles has 30 offices in 14 countries. The company's professional services include clinical trials and data management, biostatistical analysis, formulation and packaging for clinical trials, centralized laboratory services, preclinical and Phase I testing, and regulatory, strategic, and health economics consulting.