TOKYO - August 27, 2002 - Quintiles Transnational Japan K.K. and SRL, Inc., today announced the creation of a strategic alliance to provide clinical trial laboratory and other services to pharmaceutical and biotechnology customers in Japan.
The alliance is intended to provide Quintiles' customers with access to the extensive resources and network of SRL, Japan's largest reference laboratory services organization. The alliance also enables SRL's customers to have access to the clinical trial expertise and project management skills of Quintiles Japan, a unit of Quintiles Transnational Corp., the world's leading pharmaceutical services company. The companies will conduct their strategic alliance activities through joint steering committees. Any future collaboration would be the subject of a definitive agreement between Quintiles Japan and SRL.
The companies also intend to explore collaborations regarding investigator site support services and specialized testing services, including genetic testing.
"The alliance brings together two major healthcare partners dedicated to providing value-added services to research-based pharmaceutical and biotechnology companies in Japan," said Mikihiko Obayashi, Ph.D., President of Quintiles Japan. "This alliance serves as an excellent platform to provide comprehensive laboratory and clinical services to our customers in an integrated and streamlined fashion."
Quintiles Transnational Japan K.K. provides a broad range of pharmaceutical services, from clinical development to commercialization and training. For more information, visit the company's Web site at www.quintiles.co.jp.
Quintiles Transnational Corp. (Nasdaq: QTRN) helps improve healthcare worldwide by providing a broad range of professional services, information and partnering solutions to the pharmaceutical, biotechnology and healthcare industries. 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.
SRL is Japan's largest reference laboratory services organization, with a broad array of advanced technological and research capabilities, including more than 4,000 types of clinical laboratory tests conducted through the largest laboratory facilities and systems in Asia. SRL is listed on the Tokyo Stock Exchange. For more information, visit the company's Web site at www.srl-group.co.jp.
Information in this press release contains "forward looking statements" regarding Quintiles and Quintiles Japan that involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the risk that Quintiles Japan and SRL will not enter into a definitive agreement, the risk that the market for our products and services will not grow as we expect, actual operating performance, the ability to maintain large client contracts or to enter into new contracts, changes in trends in the pharmaceutical industry and the ability to operate successfully in new geographical locations or lines of business. Additional factors that could cause actual results to differ materially are discussed in Quintiles' 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.