In a shift from making acquisitions, Quntiles has this time sold part of its holdings.
The world’s largest life science services firm said Tuesday that it has sold its minority interest in an Asia-Pacific commercial services firm called Invidia. Financial terms were not disclosed.
Quintiles and two other firms formed Invidia in 2006. The company was acquired by Menarini Group, a large privately held biopharma firm based in Italy.
Moving forward, Quintiles said it would focus on Quintiles’ Global Commercial Solutions group.
“As a result of this opportunity, we will pursue strategic expansion of our commercial solutions in Asia that are integrated with Quintiles’ global systems, capabilities and expertise, and optimize the breadth and depth of our offerings across our commercial, clinical, capital and consulting groups,” said Rich Pilnik, president of Global Commercial Solutions. “We will continue to build from our existing Commercial business in Japan, where Quintiles is the market leader in outsourced commercialization solutions.”
The Global Services group has expanded this year into Russia and is looking to grow in the Middle East, Africa and Latin America. It employs some 7,000 people across five continents.
In October, Quintiles acquired three other companies.
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