RESEARCH TRIANGLE PARK, N.C. – April 24, 2014 – Quintiles, the world’s largest provider of biopharmaceutical development and commercial outsourcing services, and Biogen Idec (NASDAQ: BIIB) have entered into a five-year strategic clinical development agreement. The multi-year collaboration is designed to leverage the expertise and experience from both organizations to optimize Biogen Idec’s clinical development processes.
The collaboration is structured to increase clinical trial efficiency, with a focus on transparency, quality, innovation and operational excellence. Under the agreement, a dedicated team from Quintiles will work with Biogen Idec on the design, planning and execution of Biogen Idec’s phase II-IV studies and select phase I studies. In addition, Biogen Idec will leverage Quintiles’ technology and systems across its growing portfolio.
“Our partnership with Biogen Idec exemplifies the ongoing evolution of drug development collaboration and reinforces the increasingly important role that biopharmaceutical service providers such as Quintiles have in these efforts,” said Tom Pike, chief executive officer, Quintiles. “We are extremely excited about this agreement and the increased interest we are seeing for these types of innovative development deals. We believe Quintiles is uniquely positioned to help our customers improve their probability of success through these collaborations, and we look forward to working closely with Biogen Idec.”
The Biogen Idec and Quintiles collaboration is already underway. New projects are being initiated through the collaboration, and several of Biogen Idec’s ongoing studies are currently transitioning to Quintiles.
“As we have continued to build our research and development organization, it was important for us to identify a strong clinical development partner to complement our focus on developing innovative therapies for the treatment of neurodegenerative, hematologic and autoimmune diseases,” said Alfred Sandrock, M.D., Ph.D., group senior vice president, Development Sciences and chief medical officer, Biogen Idec. “What attracted us to Quintiles was their depth and breadth of experience, which we believe will enhance the design, planning and operational elements of our clinical programs."
Quintiles (NYSE: Q) is the world’s largest provider of biopharmaceutical development and commercial outsourcing services with a network of more than 28,000 employees conducting business in approximately 100 countries. We have helped develop or commercialize all of the top-50 best-selling drugs on the market. Quintiles applies the breadth and depth of our service offerings along with extensive therapeutic, scientific and analytics expertise to help our customers navigate an increasingly complex healthcare environment as they seek to improve efficiency and effectiveness in the delivery of better healthcare outcomes. To learn more about Quintiles, please visit www.quintiles.com
About Biogen Idec
Through cutting-edge science and medicine, Biogen Idec discovers, develops and delivers to patients worldwide innovative therapies for the treatment of neurodegenerative diseases, hemophilia and autoimmune disorders. Founded in 1978, Biogen Idec is the world’s oldest independent biotechnology company. Patients worldwide benefit from its leading multiple sclerosis therapies. For product labeling, press releases and additional information about Biogen Idec, please visit www.biogenidec.com.
Quintiles Forward Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect, among other things, Quintiles’ current expectations and anticipated results of operations, all of which are subject to known and unknown risks, uncertainties and other factors that may cause Quintiles’ actual results, performance or achievements, market trends, or industry results to differ materially from those expressed or implied by such forward-looking statements. Therefore, any statements contained herein that are not statements of historical fact may be forward-looking statements and should be evaluated as such. Without limiting the foregoing, the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “should,” “targets,” “will” and the negative thereof and similar words and expressions are intended to identify forward-looking statements. These statements are subject to risks, uncertainties and assumptions, including those described under the section entitled "Risk Factors" in Quintiles’ annual report on Form 10-K for the fiscal year ended December 31, 2013, filed with the SEC on February 13, 2014, as such factors may be amended or updated from time to time in Quintiles’ periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Quintiles’ filings with the SEC. Unless legally required, Quintiles assumes no obligation to update any such forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information.
Phil Bridges, Media Relations (email@example.com)
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Karl Deonanan, Investor Relations (InvestorRelations@quintiles.com)