RESEARCH TRIANGLE PARK, N.C. - October 19, 2001 - Quintiles Informatics announced today that it had signed data agreements with nine pharmacy chains and plans to significantly expand its current volume of de-identified healthcare claims data in 2002. Under a settlement agreement recently announced by Quintiles and WebMD, Quintiles will no longer receive WebMD data after February 28, 2002.
"This settlement frees us to concentrate on other data sources to improve both the quantity and quality of the de-identified data we provide our clients," said Gregory Porter, Chief Executive Officer of Quintiles Informatics. "We've already secured rights to de-identified prescription data from nine pharmacy chains and are in active negotiations with many other data providers. Our goal is to significantly expand the transaction volume in 2002, with the potential for doubling our pharmaceutical claims flow.
"These new data sources offer us longitudinal data on cash transactions as well as reimbursed transactions. The data will enhance our cutting edge applications, including Market Mover, which gives sales representatives and sales managers the most timely, actionable information available on new patient starts and brand switches at the prescriber level. We also are actively pursuing sources of longitudinal medical data that we can match against our pharmacy transactions."
Pharmaceutical companies and healthcare organizations use Quintiles' de-identified, aggregated informatics data for a variety of purposes, including public health screening; analyzing disease prevalence trends and treatment patterns; increasing drug sales and marketing efficiency; accelerating clinical trials; and drug safety surveillance.
Quintiles Transnational is the world's leading provider of information, technology and services to help 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" 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, that our data products business remains subject to contracts and state and federal laws and regulations, our ability to secure new data sources, and that we continue to rely on compliance from WebMD to supply us data. Additional factors that could cause actual results to differ materially, including with respect to data products, 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.