RESEARCH TRIANGLE PARK, N.C. - October 3, 2001 - To enhance the depth of services it provides in support of late phase product development, Quintiles Transnational Corp. (Nasdaq: QTRN) announced the formation of Quintiles Late Phase, an international effort dedicated to helping pharmaceutical and biotech companies bridge clinical development and product commercialization.
"While Quintiles has played a leadership role in delivering late phase services for several years, the formation of this dedicated resource enhances our ability to help our customers launch their products successfully," said Richard Johnson, M.D., Chief Executive Officer, Quintiles Commercialization North America. "The late phase market is a major growth area in the pharmaceutical and biotech industries. We believe that companies around the world spend about $1 billion annually in late phase research."
In North America and Europe, Quintiles Late Phase has established business development and study management teams and is implementing a wide range of capabilities to enhance the delivery of its services. "In an increasingly competitive environment, effective management of late phase studies and services is an essential component for the successful launch of new products," Johnson said. "We combine marketing and clinical skills to create the science needed to differentiate these products in the marketplace for a competitive advantage."
Quintiles Late Phase has also aligned its disease and product registry programs more closely with market needs to help increase product awareness and build demand. Quintiles Late Phase staff has internationally recognized clinical and scientific expertise that is supported by Quintiles' global information, technology and development services. The group provides strategic planning, study design, statistical analysis and data and program management to deliver complete launch solutions for leading pharmaceutical, biotechnology and medical device companies. The staff of Quintiles Late Phase has extensive experience in support of Phase IIIb and Phase IV clinical trials, patient and pharmacogenomic registries, health outcomes research and reimbursement analyses.
Quintiles Late Phase maintains its offices in San Francisco and Boston, and in Europe in the United Kingdom, France and the Netherlands.
Quintiles Transnational Corp. 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 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" regarding Quintiles that involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the risk that the market for our products and services will not grow as we expect, changes in trends in the pharmaceutical industry, 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 Annual Report on Form 10-K, its Form 8-Ks, and its other periodic reports, including Form 10-Qs.