RESEARCH TRIANGLE PARK, N.C. – November 17, 2003 – Quintiles Transnational Corp. today announced the launch of Quintiles Strategic Research Services, a new global business division specializing in the design and delivery of non-registration research studies.
Strategic Research Services conducts studies that further define the safety, effectiveness and value of products, often under "real world" conditions. These studies generate information that physicians and patients frequently rely upon to make informed treatment decisions.
"Today, registration of a new product is only a starting point," said Hugo Stephenson, M.D., President of Quintiles Strategic Research Services. "Although our customers conduct extensive clinical trials to gather and analyze safety and efficacy data for the purposes of registration, that's no longer enough. Patients, physicians, regulatory agencies and formularies are asking tougher questions about products and how they work in the real world. Are they cost-effective? In which patient populations does the product work best? Does the product really work as well in the real world as it did under controlled conditions?"
The new division blends Quintiles' existing "late phase" and strategic consulting business units, creating four regional business units – North America, Europe, Australia and Japan.
"By consolidating our expertise, we can more easily standardize ways of working and share best practice, and we can use our collective creativity to deliver truly innovative, global programs for our customers," Stephenson said. "At the same time, our regional approach allows us to meet the needs of specific markets."
The new organization has dedicated staff for project management, site management, data management and business development. The group will also draw on the expertise and experience of Quintiles' Product Development and Commercial Services units to deliver innovative programs supported by scientifically valid research.
Quintiles 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, and with offices in more than 40 countries, Quintiles is a leading global pharmaceutical services organization and a member of the Fortune 1000. For more information visit the company's Web site at www.quintiles.com.
This press release contains forward-looking statements regarding Quintiles that involve risks and uncertainties that could cause actual results to differ materially. The risks and uncertainties with respect to Quintiles include, without limitation, the risk that the market for Quintiles' products and services will not grow as expected, the risk that Quintiles will not be able to effectively manage time requirements or maintain consistent high global standards with respect to its Strategic Research Services projects, actual operating performance, changes in trends in the pharmaceutical industry, and the ability to operate successfully in new 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 the company's Annual Report on Form 10-K, its Form 8-Ks, and its other periodic reports, including Form 10-Qs.