RESEARCH TRIANGLE PARK – A global leader in the clinical research industry headquartered in the Triangle is moving out of an iconic building that is visible from Interstate 40 near Research Triangle Park.
IQVIA (NYSE: IQV) is now seeking to sublease the facility, a former headquarters location for the company, at 4820 Emperor Boulevard in Durham, according to a report in the Triangle Business Journal.
The company’s most recent quarterly earnings report, filed this month with the Securities and Exchange Commission, notes the entity’s address as located at 2400 Ellis Road in Durham.
And also at that location, a facility was opened by the company to operate a subsidiary entity, Q2 Solutions, in 2021. That decision included a deal struck between the firm and the State of North Carolina that stated the facility would add 750 new jobs to the state’s economy within the decade.
IQVIA already hiring for dozens of roles at new ‘Innovation Laboratories’ facility
Company remains ‘committed’ to Triangle
And IQVIA has continued growth, despite macroeconomic uncertainty in the latter half of 2022, according to the firm’s chairman and CEO Ari Bousbib, who spoke during an investor call earlier this month.
“We closed the year with strong results and record bookings and backlog,” said Ari Bousbib, chairman and CEO of IQVIA in a statement about the firm’s earnings. “For the full year, we delivered strong underlying revenue growth in all three segments, expanded margins, and again grew Adjusted EPS double digits. The year also marked the end of a very successful Vision 22 plan; we exceeded our three-year goals despite the volatile macro environment over the period.”
A spokesperson for the company told the Triangle Business Journal that the company’s decision to put the Emperor Boulevard property up for sublease was not because it expects to reduce headcount in the region.
“This relocation is an effort to provide employees with one location to work together with greater opportunity for connectivity and improve amenities, while creating jobs and remaining committed to expanding in the Research Triangle area,” the spokesperson told the Triangle Business Journal.
IQVIA did lay off 232 employees in August 2021.
“As we begin 2023, the fundamentals of our business and the outlook for our end markets remain healthy,” said Bousbib in the statement. “We expect continued robust demand for our differentiated offerings, solid organic growth and sustained operating momentum across the portfolio.”
