RESEARCH TRIANGLE PARK, N.C. – May 21, 2007 – Quintiles Transnational Corp. and Thermo Fisher Scientific Inc. (NYSE: TMO) today announced the creation of a joint venture, called Cenduit™, that provides seamless, integrated Interactive Response Technology (IRT) services for pharmaceutical and biotechnology product development.
IRT is a technology platform that integrates patient interaction systems through a combination of Interactive Voice Response (IVR) systems, Web interfaces and handheld electronic patient diaries. The use of IRT is expected to grow as pharmaceutical companies look to streamline and better control increasingly complex drug development processes.
“Cenduit brings together best-in-class technology, exceptional customer service and global clinical trial expertise to give biotechnology and pharmaceutical companies a seamless, integrated ‘one-stop’ service for support of their clinical development programs,” said Jogin Desai, Chief Executive Officer of Cenduit. “Our efficiency and experience in IRT services and clinical project management offers the drug development industry a conduit to the broadest, most accurate, real-time view of every detail in the process – and a very competitive solution.” The name “Cenduit” signifies the channel through which information can move directly and freely. The prefix evokes the idea of a central point or hub.
Thermo Fisher contributes to the joint venture its Fisher Clinical Services IRT operations in three locations – Horsham, U.K.; Allentown, Penn., USA; and Basel, Switzerland. Quintiles brings its IRT operations in Bangalore, India, and Research Triangle Park, NC, USA, which is the venture’s headquarters.
Desai said the opportunity for an IRT business is strong and growing: “Interactive Voice Response is used in an estimated 30% of all Phase II-III clinical trials, and this rate is expanding rapidly. With advances in technology leading to even broader application through Interactive Response Technology, we believe the market will grow at a rate of about 20% per year, and we plan to offer a service that can aggressively capitalize on this opportunity.”
Cenduit will be guided by a joint venture board of directors, composed of representatives from each of the founder companies. The board will provide guidance on operational and strategic matters.
“Our companies have been looking for an opportunity to leverage the particular service strengths we bring to the drug development process,” said Marijn E. Dekkers, President and Chief Executive Officer, Thermo Fisher Scientific. “With Cenduit, we have combined two leaders – the clinical supply chain expertise of our Fisher Clinical Services business with the clinical development expertise of Quintiles – to offer a scalable, seamless technology platform.”
The two parent companies have worked together to create something new for customers to provide them with more control over the myriad details of their drug development processes. “These are two businesses that know the complexity of clinical trials and the optimal cohesiveness and integration of their many work and data streams,” said Oppel Greeff, Quintiles’ Vice Chairman, Operations. “The joint venture that we have created through Cenduit offers the drug development industry the broadest, most accurate view of every detail in the process.”
Desai, the CEO, previously served in Quintiles as Executive Director, Quintiles Cardiac Safety Services. A medical doctor, Desai has had extensive prior work experience in clinical research in the United States. He joined Quintiles India in 2002 and has been instrumental in building and expanding a highly successful global ECG business, which has staff in India (Mumbai, Bangalore), the UK (Bracknell), US (RTP) and Japan (Tokyo).
Quintiles Transnational Corp. is powering the next generation of healthcare by providing a broad range of professional services in drug development, financial partnering and commercialization for the pharmaceutical, biotechnology and healthcare industries. With 17,000 employees and offices in more than 50 countries, it is focused on providing customer-centric solutions that are the gold standard of the industry. For more information, visit www.quintiles.com.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, enabling our customers to make the world healthier, cleaner and safer. With an annual revenue rate of more than $9 billion, we employ 30,000 people and serve over 350,000 customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings. Visit http://www.thermofisher.com.