The addition of More Biomedical would establish Quintiles as the leading provider of CRO services in the growing Taiwanese market. Based in Taipei, More Biomedical provides clinical research services to both Taiwanese and international pharmaceutical companies. The company has conducted about 40 clinical trials and has nine ongoing.

The definitive agreement calls for More Biomedical, a privately held company with 10 employees, to be acquired in exchange for Quintiles stock. The transaction, which is subject to review by Taiwan government authorities, is expected to be completed later this quarter. When completed, the transaction will be accounted for as a pooling of interests and is expected to be neutral to Quintiles' earnings per share.

"More Biomedical's established network of more than 100 investigators has proven its ability to swiftly recruit patients for trials and gather high-quality data," said Ludo Reynders, Ph.D., Chief Executive Officer of Quintiles Contract Research Organization (CRO) service group. "In addition, the company's knowledge of and good working relationships with Taiwan's Department of Health make this agreement an exciting one for us and one that should benefit our customers."

Upon completion of the deal, More Biomedical would operate as Quintiles Taiwan, a part of Quintiles CRO, and be managed by Ray Wang, who founded More Biomedical in 1994. The office would remain at its current location at 3F, Sec. 3, Chuan-Shan N. Road, Taipei, 104 Taiwan. Phone +886-22-595 3415.

"We are delighted with the prospect of joining Quintiles," Wang said. "As part of the group we expect to offer our customers enhanced clinical research capabilities as well as an international service offering." Earlier this month, Quintiles announced the signing of a definitive agreement for Quintiles N.V./S.A. to acquire Pharma Networks N.V. Quintiles acquired Pharma Networks, a privately held company, in exchange for Quintiles stock. The transaction, accounted for as a pooling of interests, is expected to be neutral to slightly accretive to Quintiles' earnings per share.

The addition of Brussels-based Pharma Networks, with about 90 employees, significantly strengthens Quintiles' contract sales force in Belgium and adds to its ability to provide comprehensive and coordinated contract sales services across Europe. Pharma Networks will do business as a part of Quintiles' Innovex product commercialization service group.

"Our customers increasingly want both a strong local presence and a pan-European approach to pharmaceutical sales," said David White, Innovex CEO. "The addition of Pharma Networks helps us meet those needs by extending our European sales network."

Quintiles has entered into an employment agreement with Pharma Networks co-founder Jacques Simar, as General Manager, and a consulting agreement with the other co-founder, Marleen Collee. Pharma Networks will operate under the name Innovex Belgium, and will continue to operate from its current office at 33 Rue de la Serenade, Brussels. Phone +32 2 555 0555; fax +32 2 555 0556. Within Innovex, Pharma Networks will be integrated with Innovex Benelux, which serves Belgium and The Netherlands.

Quintiles Transnational Corp. is the market leader in providing full-service contract research, sales, marketing and 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 10,000 employees worldwide and offices in 25 countries, Quintiles operates through specialized work groups dedicated to meeting individual customer 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 actual completion of the More Biomedical transaction, the ability of the combined businesses to be integrated with Quintiles' current worldwide 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.