RESEARCH TRIANGLE PARK, N.C. - December 11, 2001 - Quintiles Transnational Corp. (Nasdaq: QTRN) today announced that it has entered into a strategic alliance with Pharmacia Corporation of Peapack, New Jersey, to provide clinical development and laboratory services to Pharmacia worldwide. The five-year agreement expands the relationship globally that Quintiles and Pharmacia formed last year when Quintiles acquired Pharmacia's clinical development unit in Stockholm.
The agreement gives Pharmacia full, global access to Quintiles' capabilities, including clinical trial services such as Phase I, data management, expert consultation, central laboratory services, preclinical, pharmaceutical sciences and late phase.
The alliance calls for close collaboration as well as the integration of business processes and new technologies that the two companies believe will allow greater efficiencies beyond what is achieved through a typical outsourcer/pharmaceutical company relationship. The alliance, effective January 1, 2002, encompasses all geographic markets including Japan.
"Expanding our relationship with Pharmacia exemplifies the success we've had since we acquired their Stockholm clinical development unit earlier this year," said Ludo Reynders, Chief Executive Officer of Quintiles Clinical Development Services. "Through our close collaboration, we expect this strategic alliance to provide important benefits such as enhanced efficiencies and cost economies for both companies. This alliance demonstrates our expanding role from outsourcer to developing long-term global customer relationships as we respond to the changing pharmaceutical industry and the needs of our customers."
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 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." These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the extent to which Pharmacia chooses to use the services of Quintiles, the ability to develop and implement new technologies that increase productivity and efficiency, and the performance of services satisfactory to Pharmacia. 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.