Posts tagged “Quintiles”
Three Wall Street firms have voted "no" on the big Quintiles-IMS Health merger so far by downgrading Quintiles stock. However, on Wednesday afternoon S&P Global Ratings weighed in with a positive review of the deal. WTW Insiders get the details.
Durham-based life science services giant Quintiles is merging with IMS Health Holdings in a deal forming a company worth some $17.6 billion. The merger was announced early Tuesday. Quintiles founder Dennis Gillings will lead the combined board but IMS shareholders will hold majority of stock. Wall Street, however, reacts negatively to the news.
The merger of Quintiles and IMS Health creating a $17 billion health services company announced Tuesday can be traced back to a meeting between the two CEOs last year. Quintiles' Tom Pike tells analysts the two firms discovered quickly how well they could work together, and the CEO of IMS says the collaboration has already delivered "major wins."
Tuesday's merger of Quintiles with IMS Health Services might trigger other CRO deals affecting the Triangle, says Chapel Hill-based analyst Andrew Schafer of Industry Standard Research. Also, Wall Street is giving the Q deal the thumbs down as shares tumble 8 percent. Why? Schafer explains. Plus, a Bloomberg columnist weighs in.
Any time companies merger, they talk about cost savings and "synergies." That often means layoffs with redundant services and more often being cut. So will there be an immediate impact in Durham at Quintiles' global headquarters? And why merge with IMS Health Services? WTW asks a Quintiles exec for details.
Quintiles is proposing to shut down a Phase 1 clinical trial unit in London which employs some 170 doctors and other staff, a company spokesperson tells WRAL TechWire.
Fortune's latest "Most Admired Companies" report includes Quintiles for the second straight year. IBM and AT&T crack the overall top 50, and Lenovo comes in at No. 3 among technology firms. Meanwhile, three "As" finished 1-2-3.
Quintiles reports quarterly earnings that top Wall Street expectations, and the business pipeline has CEO Tom Pike upbeat. "We believe we are well-positioned for the long-term with our $12.04 billion of backlog," he says.
In observance of Feb. 4 as "World Cancer Day," Terry Murdock, the head of the Oncology Center of Excellence at Quintiles, writes in a blog that "there is much to celebrate" this year in the fight against cancer.
With "apathetic" attitudes helping drive down life science industry stocks as part of a general market spiral, Quintiles CEO Tom Pike took to the airways Wednesday evening to defend his company and the biotech-related sector.
As digital health becomes more common in these days of emerging electronic medical records, wearable health devices and more, Quintiles is joining the growing number of companies seeking to capitalize on the world's biggest tech show: CES in Las Vegas. And Durham-based Validic exec will be leading the discussion in which Quintiles is participating.
Quintiles Transactional Holdings (NYSE:Q) reported third quarter earnings of $117.58 million or 94 cents a share, beating analyst expectations of 81 cents a share and a 44.6 percent increase compared to the same period last year.
Quintiles has named Kevin Gordon, currently serving as executive vice president, Operations and chief financial officer (CFO), has been promoted to chief operating officer (COO). The company also said Michael McDonnell is expected to join Quintiles in December 2015 as executive vice president, chief financial officer (CFO).