RESEARCH TRIANGLE PARK, N.C. - February 12, 2001 - Following the success of its contract pharmaceutical organization (CPO) structure in Japan, Asia-Pacific and South Africa, Quintiles Transnational Corp. today announced that it will extend this streamlined structure to Europe and Latin America. Quintiles also announced that it would consolidate its Japan, South Korea and Asia-Pacific operations into one region. The transition will take effect in the second quarter of 2001.
Putting all of Quintiles' product development, commercialization and informatics services under one management umbrella reporting to one senior executive who leads a geographic region allows for better customer service and tighter management control of resources, said Dennis Gillings, Ph.D., chairman and chief executive officer of Quintiles Transnational (Nasdaq: QTRN).
"Our customers have benefited from our 'contract pharmaceutical organization' structure because it gives them easy one-stop access to any or all of our services," said Gillings. "We have enabled a more entrepreneurial approach in our regional expansion that we believe will accelerate revenue growth. Extending this structure to Europe and Latin America should give our organization an additional competitive advantage."
The new European region will be led by Andrew Howden. The Japan and Asia-Pacific operations will be led by Derek Winstanly, M.D. Latin America will join the region that now includes South Africa and India, led by Oppel Greeff, M.D. All three individuals have been responsible for managing contract pharmaceutical organizations for Quintiles. These appointments acknowledge their capabilities and extend the geographic regions for which they are responsible.
Howden joined Quintiles in 1998 after a 16-year career in sales and marketing for Astra Pharmaceuticals. Winstanly joined Quintiles in October 1999 after a 15-year career in senior management positions with Glaxo Wellcome. Greeff, who has more than 20 years' pharmaceutical industry experience, joined Quintiles in 1997 when the South Africa-based contract research organization he founded was acquired by Quintiles.
Quintiles Transnational is the world's leading provider of information, technology and services to bring new medicines to patients faster and improve healthcare. Headquartered near Research Triangle Park, North Carolina, Quintiles employs a global workforce of 18,000 in 39 countries. Quintiles Transnational is a member of the S&P 500 and Fortune 1000. For more information visit the company's web site at www.quintiles.com.
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, our ability to complete development and commercialization of new products, the cost and timing of bringing new products to market compared with revenues which may be generated by them, market acceptance, our ability to efficiently distribute backlog among therapeutic business units and match demand to resources, actual operating performance, the ability to maintain large client contracts or to enter into new contracts, changes in trends in the pharmaceutical industry, the ability to create data products from data licensed to us 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 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-Qs.