Vietnam Ministry of Health and Quintiles Collaborate to Advance Clinical Trial Excellence
Nov 20 13
The Vietnam Ministry of Health's Administration of Science, Technology and Training (ASTT) has signed an agreement with Quintiles to enhance clinical research in this growing nation of 90 million people. This collaboration marks a new stage in the ministry's efforts to support the development of new, better therapies for diseases that afflict the populations of Vietnam and Southeast Asia. Under the two-year agreement, Quintiles and ASTT will collaborate in forming a larger working group to address a variety of topics, including improved processes for trial management; development of streamlined processes to improve trial efficiency and quality; and training for investigators and ethics committees.
Quintiles Advances Risk-Based Monitoring with the Launch of Data-driven Trial Execution Powered by Infosario Clinical
Nov 13 13
Quintiles announced the launch of its comprehensive, fully-integrated Data-driven Trial Execution offering, which leverages the concept of risk-based monitoring to improve clinical trial delivery. While the industry's current approach to risk-based monitoring focuses solely on clinical trial monitoring, Data-driven Trial Execution combines study start-up, project management, clinical monitoring, data management and analytics to optimize trial conduct while meeting regulatory demands and quality requirements for Good Clinical Practice (GCP). Data-driven Trial Execution is powered by enhancements to the award-winning Quintiles Infosario(R) platform, adding advanced analytics that provide biopharmaceutical customers with a real-time view of a study's status and progression for enhanced transparency and collaboration across stakeholder groups. With the Infosario platform, Quintiles project teams can gather insights of critical data in a single, 360-degree view allowing for early identification of risks and potential issues with automated triggers and alerts that guide action plans. Project teams now have real-time visibility to critical information across programs, including projected study visits, to enhance study execution, improve predictability and maximize customer investments.
Quintiles Transnational Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Full Year of 2013
Oct 31 13
Quintiles Transnational Holdings Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, total revenues were $1,195,839,000 against $1,199,574,000 a year ago. Income from operations was $125,259,000 against $109,136,000 a year ago. Net income attributable to the company was $66,769,000 or $0.50 per diluted share against $52,098,000 or $0.44 per diluted share a year ago. Adjusted EBITDA was $159,784,000 against $135,763,000 a year ago. Adjusted net income was $71,938,000 or $0.54 per diluted share against $52,640,000 or $0.45 per diluted share a year ago.
For the nine months, total revenues were $3,720,360,000 against $3,586,925,000 a year ago. Income from operations was $335,321,000 against $302,008,000 a year ago. Net income attributable to the company was $153,595,000 or $1.22 per diluted share against $142,572,000 or $1.21 per diluted share a year ago. Net cash provided by operating activities was $181,910,000 against $175,727,000 a year ago. Acquisition of property, equipment and software was $77,939,000 against $49,353,000 a year ago. Adjusted EBITDA was $451,862,000 against $403,589,000 a year ago. Adjusted net income was $192,483,000 or $1.53 per diluted share against $160,611,000 or $1.36 per diluted share a year ago. As on September 30, 2013, the company's net debt outstanding was $1.44 billion.
The company updates full year 2013 guidance, which includes service revenues between $3.77 billion and $3.80 billion, representing an expected constant currency growth range of 4.1% to 4.9%, and raised diluted adjusted earnings per share to $2.03 and $2.09 per share, representing growth of 14.7% to 18.1% with diluted GAAP earnings per share between $1.71 and $1.77 per share. The company has also updated the full year 2013 annual effective income tax rate to approximately 30%. This financial guidance is based on the actual results for the first nine month period of 2013 combined with the expected results for the last quarter of 2013, assuming the September foreign currency exchange rates stay in effect for the remainder of the year and includes the projected impact of the Novella acquisition. The company has also updated the full year 2013 annual effective income tax rate to approximately 30%.
John Ratliff Resigns as President and Chief Operating Officer of Quintiles Transnational Holdings Inc, Effective December 31, 2013
Oct 31 13
Quintiles announced that John Ratliff has resigned his position as president and chief operating officer (COO) effective December 31, 2013. He has also resigned his role as a member of the Quintiles Transnational Holdings Inc. board of directors. Ratliff joined Quintiles as chief financial officer in 2004, shortly after the company began its transition from public to private ownership in 2003. In 2006, he was named chief operating officer and was appointed to Quintiles' board.
Quintiles Transnational Mulls Acquisitions
Oct 31 13
Quintiles Transnational Holdings Inc. (NYSE:Q) ois seeking acquisitions. Tom Pike, Chief Executive Officer of Quintiles Transnational, said, "Our growth strategy is primarily organic with selective acquisitions of capabilities that enhance our ability to grow."Kevin Gordon, Chief Financial Officer of Quintiles, said, " Also, So we're very active in the market, we look for opportunities that whether they're tuck-in type acquisitions that is our focus, we've talked consistently about adding 1% to 2% of revenues from acquisitions. We'll continue to look to do that and I think we have a strong group that leads that activity."