Hong Kong, Singapore, Research Triangle Park, NC, USA – June 9, 2005 – Three global companies have announced a joint venture to commercialize pharmaceutical products in the Asia Pacific region. Partners in the joint venture, which will have an investment fund totaling US$112 million, include leading Asia Pacific pharmaceutical services group, Interpharma Asia Pacific, parent of drug distributor Zuellig Pharma; Asia investment company Temasek Holdings (Private) Limited; and Quintiles Transnational Corp., the world's leading pharmaceutical services organization, who has signed a letter of intent to join the venture. Each partner is expected to make an equal investment in the joint venture and own one-third each of the company.
The joint venture will draw on each partner's wide market knowledge, experience and success in both the Asia Pacific and global healthcare markets to acquire existing and new pharmaceutical products from research-based drug companies targeted at the needs of the Asia Pacific region. This service helps drug companies focus their resources on R&D and provides outsourcing for product registration and sales and marketing of their mature brand portfolios.
PharmaLink, the specialist Asia Pacific pharmaceutical marketing services division of Interpharma, will be transferred to the new JV and will help negotiate the acquisition of these products and their subsequent marketing in the Asia Pacific healthcare market. Zuellig Pharma will provide distribution and logistics expertise. Quintiles will contribute regional commercialization expertise and experience in pharmaceutical outsourcing partnerships.
Mr Fritz Horlacher, Chief Executive of Interpharma said, "Interpharma has been in Asia Pacific for more than 60 years and operates in 13 countries in the region. We believe that we will be able to actively apply our experience and knowledge of local Asian markets. We are pleased to partner with Temasek and Quintiles in this venture as we all share a common vision of the exciting growth opportunities in the Asia Pacific healthcare environment."
Dr Dennis Gillings, CBE, Chairman and Chief Executive Officer of Quintiles Transnational said, "The joint venture can provide flexible solutions for pharmaceutical customers in the Asia Pacific region in managing their product portfolios. Quintiles' global clinical knowledge aids in portfolio evaluation and our experience in commercialization and pharmaceutical partnerships complements well the capabilities of our JV partners. Together, we are a commercialization powerhouse."
Mr S Iswaran, Managing Director, Strategic Development of Temasek Holdings said, "Temasek has invested in several biotech and pharma ventures globally. This investment fits in well with our view of growth prospects for Asia and our overall investment strategy for the life sciences. We are pleased to partner with Interpharma and Quintiles, whose knowledge, networks and experience in Asia Pacific will be valuable to the success of this joint venture."
According to a leading source of pharmaceutical market intelligence, the Asia Pacific pharma market, currently estimated to be US$21 billion, has more than doubled over the last 10 years and is projected to double again over the next 10 years.
The joint venture will be managed by a professional team led by Mr Brian Nichols, Chief Executive of PharmaLink, who has more than 30 years' experience in the pharmaceutical industry in Asia Pacific. Formation of the three-way joint venture is subject to the execution of definitive agreements, which is expected to occur in a few months.
Interpharma Asia Pacific is a pan-regional enterprise operating various business units across Asia including Pharma Industries, Zuellig Pharma and PharmaLink. These business units provide services to the multi-national R&D-based pharmaceutical manufacturers. Please visit www.zuelligpharma.com/ip
Pharma Industries is a leading provider of contract pharmaceutical manufacturing services in the Asia Pacific region. It provides product development, planning & procurement and commercial manufacturing services. Please visit www.pharmaindustries.com
Zuellig Pharma, the distribution and logistics division of Interpharma, is Asia Pacific's leading provider of cutting-edge logistics services covering inventory management, warehousing, distribution and customer order management. Please visit www.zuelligpharma.com
PharmaLink, the specialist marketing services division of Interpharma Asia Pacific, offers the complete marketing solution in Asia Pacific. With expertise in orphan drug management, regulatory affairs and sales and marketing teams, PharmaLink is Asia's leading sales and marketing organization, being the ideal healthcare marketing partner, providing a complete range of marketing services and support solutions that are attracting more pharmaceutical companies, seeking to increase their growth or expand operations into Asia Pacific. PharmaLink has established a reputation for sales and marketing excellence with over 1,600 sales representatives marketing products in over 19 therapeutic areas.
For more information, please visit: www.pharmaLink.com
About Quintiles Transnational
Quintiles Transnational Corp. 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, N.C., USA, Quintiles has offices in 50 countries and is the world's leading pharmaceutical services organization.
For more information, visit the company's website 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 risk that the parties might not reach final agreement as planned and the joint venture might not commence operations as planned or at all. 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 quarterly report on Form 10-Q and its current reports on Form 8-K.
About Temasek Holdings
Temasek Holdings is an Asia investment company headquartered in Singapore. It is committed to maximizing long-term shareholder value as an active investor and shareholder of successful enterprises.
Established in 1974, it manages a diversified global portfolio of US$54 billion, spanning Singapore, Asia and the OECD economies. Its investments are in a range of industries: telecommunications and media, financial services, property, transportation and logistics, energy and resources, infrastructure, engineering and technology, as well as pharmaceuticals and biosciences.
Singapore-based Temasek-linked companies include well-known listed firms such as Singapore Airlines, SingTel, DBS Bank, SMRT Corporation and Neptune Orient Lines. Its overseas investments include ICICI Bank, Matrix Laboratories and the Apollo Hospital group in India, Bank Danamon and Bank Internasional Indonesia in Indonesia, Quintiles Transnational Corp in the US, as well as Telekom Malaysia.
For more information, please visit: www.temasekholdings.com.sg