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1998 Archive
QUINTILES ACQUIRES LEADING PHARMACEUTICAL SALES FORCE PLANNING COMPANY
RESEARCH TRIANGLE PARK, N.C. – September 10, 1998 - Quintiles Transnational Corp. (Nasdaq: QTRN) announced today the acquisition of Data Analysis Systems Inc., a leader in sales force planning and territory optimization systems for the pharmaceutical industry.
Data Analysis Systems (DAS) developed and utilizes a sophisticated PC-based territory alignment system to enhance sales force effectiveness and has extensive experience in healthcare marketing programs in a broad range of therapeutic areas. The company will be part of Innovex, the Quintiles Transnational service group specializing in product commercialization.
Quintiles acquired DAS in exchange for Quintiles stock in a pooling of interests transaction that is expected to be neutral to slightly accretive to Quintiles’ earnings per share.
“Maximizing the effectiveness of sales and marketing programs is critical in today’s competitive pharmaceutical marketplace,” said David Stack, President of Innovex Inc. “Data Analysis Systems’ experience, sophisticated sales management software, promotion response models and strategic targeting help pharmaceutical companies optimize sales force productivity. These capabilities further strengthen our ability to accelerate the commercial success of our customers’ products.”
Based in Piscataway, New Jersey, DAS is a privately held company with 58 employees and offices in Pennsylvania, California, Arizona and England. James Arvesen, President, and Richard Johnston, Executive Vice President, will continue in their respective roles at DAS.
“A successful product launch requires careful research and planning and well-trained sales representatives to execute those plans,” Arvesen said. “Together, Innovex and DAS form a powerful team for healthcare companies seeking an edge in the marketplace.”
DAS’s main office is at 501 Hoes Lane, Suite 300, Piscataway, New Jersey 08854. Telephone: 732 699 9199. Fax: 732 699 1199.
Innovex is the world’s largest supplier of contract sales and marketing services to the pharmaceutical industry, with service capabilities in 21 countries on five continents.
Quintiles Transnational Corp. is the market leader in providing full-service contract research, sales and marketing, healthcare policy consulting and health information management services to the worldwide pharmaceutical, biotechnology, medical device and healthcare industries. Quintiles is headquartered near Research Triangle Park, North Carolina. With 14,000 employees worldwide and offices in 29 countries, Quintiles operates through specialized work groups dedicated to meeting customers’ individual needs.
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 ability of the combined businesses to be integrated with Quintiles’ current operations, actual operating performance, the ability to maintain large client contracts or to enter into new contracts, and the actual costs of combining the businesses. Additional factors that could cause actual results to differ materially are discussed in the company’s recent filings with the Securities and Exchange Commission, including but not limited to its S-3 and S-4 Registration Statements, its Annual Report on Form 10-K, its Form 8-Ks, and its other periodic reports, including Form 10-Q, exhibit 99.01.
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