Quintiles Transnational is selling off three of its business units to Aptuit in a deal worth $125 million.

The companies also signed a two-year services agreement.

Aptuit will acquire Quintiles’ preclinical services, pharmaceutical sciences and clinical trials groups.

Some, 1400 people work for the three groups at operations in Missouri, New Jersey, Singapore and Scotland.

Aptuit is focused on early drug development processes.

“This is a winning, strategic move for Quintiles that we believe will
benefit our customers,” said Dennis Gillings, Quintiles’ chief executive officer. “The commercial agreement will enable Quintiles to continue to make early development services available through the alliance while we grow internally to meet the increasing demand for our services in clinical trials and commercial partnerships.”

Aptuit is based in Greenwich CN.

Quintiles: www.quintiles.com