RESEARCH TRIANGLE PARK, N.C. - July 27, 1998 - Quintiles Transnational Corp. (Nasdaq: QTRN) announced today the signing of an agreement with Johns Hopkins Medicine to collaborate on clinical research opportunities. The non-exclusive agreement also calls for Johns Hopkins to participate in Quintiles' Select Sites(TM) program.
The agreement is part of Quintiles' Select Sites strategy to develop strong alliances with outstanding academic medical centers, independent investigator sites, and site management and managed care organizations worldwide. By cooperating in patient recruitment, protocol design and other areas, Quintiles and investigator organizations are seeking to improve and accelerate the development of new drugs to treat patients in need.
"Johns Hopkins is one of the world's most renowned medical institutions and we're pleased to include it in our program to increase collaboration with outstanding investigator sites worldwide," said James Hamill, Group Vice President of Quintiles Accelerated Clinical Research. "This agreement further strengthens our worldwide TotalAcceleration(TM) program to improve clinical trials while compressing drug development timelines."
The agreement with Johns Hopkins, based in Baltimore, Md., is through its School of Medicine. Johns Hopkins Medicine unites Hopkins' biomedical research, clinical teaching and business enterprises, and includes the Johns Hopkins University School of Medicine, The Johns Hopkins Hospital and several other components. The $1.8 billion enterprise is one of the largest employers in Maryland and is consistently named at the top of national rankings for best hospital and best School of Medicine.
Bart Chernow, M. D., Vice Dean for Research, Technology and Corporate Relations at Johns Hopkins Medicine, said: "This new partnership could greatly expand our access to important clinical drug trials, giving our patients access to newer and possibly better medications. This relationship may substantially increase the amount of corporate sponsored clinical trials available to Johns Hopkins faculty members. The agreement is not exclusive, but we anticipate that Quintiles would approach Hopkins regularly looking for investigators."
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 is headquartered near Research Triangle Park, North Carolina. With 13,000 employees worldwide and offices in 28 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 level of collaboration resulting from the agreement and actual operating performance. 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 Form 8Ks, its Annual Report on Form 10-K and its periodic reports on Form 10-Q, exhibit 99.01.