RESEARCH TRIANGLE PARK, N.C. - June 1, 1998 - Quintiles Transnational Corp. (Nasdaq: QTRN) announced today that it has acquired a clinical trial production and warehouse facility in Scotland from Boehringer Mannheim, a member of the Roche group based in Basle, Switzerland.
The modern 58,000-square-foot facility in Livingston, Scotland, will be integrated with Quintiles' two other nearby facilities, one (at Bathgate) specializing in clinical trial packaging and distribution and the other (at Edinburgh) providing services in all aspects of preclinical and pharmaceutical drug development. Twenty-eight Boehringer Mannheim employees will transfer to Quintiles to ensure continuity in services at the Livingston site.
The acquisition significantly expands Quintiles' ability to prepare and package drugs for use in clinical trials, especially large-scale multinational trials that can involve thousands of patients. It also allows Quintiles to provide some specialized services for biotechnology and pharmaceutical customers.
"Our three sites in Scotland create an unsurpassed 'triangle of excellence' in contract development from preclinical through all clinical phases," said Ludo Reynders, Ph.D., Chief Executive Officer of Quintiles Contract Research Organization (CRO) service group. "No other outsourcing company has Quintiles' ability to supply drug products for Phase I and II studies, or large multinational Phase III trials, and integrate this with advanced clinical trial management and data collection services."
Together, Quintiles' three facilities in Scotland - all less than 15 miles apart - employ more than 600 people.
Quintiles Transnational Corp. is the market leader in providing full-service contract research, sales and marketing, healthcare policy consulting and health information management services to the worldwide pharmaceutical, biotechnology, medical device and healthcare industries. Quintiles Transnational is headquartered near Research Triangle Park, North Carolina. With 12,000 employees worldwide and offices in 27 countries, Quintiles operates through specialized work groups dedicated to meeting individual customer needs.
Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the ability of the combined operations to be integrated with Quintiles' current worldwide operations, actual operating performance, the ability to maintain large client contracts or to enter into new contracts, and the actual costs of combining the businesses. 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 S-3 and S-4 Registration Statements, its Annual Report on Form 10-K, its Form 8-Ks, and its other periodic reports, including Form 10-Q, exhibit 99.01.