Quintiles Launches Marketed Product Maintenance Offering to Better Manage Established Products
Dec 1 14
Quintiles announced a new offering that combines its pharmacovigilance, regulatory dossier/label maintenance, benefit-risk management, and analytic expertise into one integrated solution. This solution will help biopharmaceutical companies better manage all activities required to maintain the licenses for their portfolio of marketed products. Underpinned by a fully-integrated technology platform, the new offering, called Marketed Product Maintenance (MPM), will provide biopharmaceutical companies with data-driven insights on the benefit-risk profiles of their products. These enhanced insights will enable customers to identify potential product risks, fulfill increasingly complicated regulatory requirements and help them make better decisions about their marketed products. By using technology and subject matter expertise to connect the post-approval requirements and license maintenance processes more effectively and efficiently, biopharmaceutical companies can generate greater return on investment from their portfolio of established products by redeploying resources on prioritized, growth-oriented products. These services will be delivered globally as an integrated and efficient turnkey solution, leveraging company's safety, regulatory, benefit-risk management research experience, as evidenced by: 99% on-time compliance for approximately 1.5 million clinical, post-marketing, and device safety reports processed globally since 2009; 100% of approximately 1,500 electronic common technical documents (eCTDs) submitted to the EU, U.S. and Canada passed technical validation.
Quintiles Transnational Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Full Year of 2014
Oct 30 14
Quintiles Transnational Holdings Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues of $1,400,034,000 compared to $1,195,839,000 a year ago. Income from operations was $149,142,000 compared to $125,259,000 a year ago. Income before income taxes and equity in earnings of unconsolidated affiliates was $132,470,000 compared to $94,398,000 a year ago. Net income was $92,733,000 compared to $66,584,000 a year ago. Net income attributable to the company was $92,654,000 compared to $66,769,000 a year ago. Diluted earnings per share were $0.71 compared to $0.50 a year ago. Adjusted EBITDA was $181,115,000 compared to $159,784,000 a year ago. Adjusted income from operations was $150,935,000 compared to $132,460,000 a year ago. Adjusted net income was $84,985,000 compared to $70,714,000 a year ago. Diluted adjusted earnings per share were $0.65 compared to $0.53 a year ago. Contributing to the adjusted net income growth were the increased service revenues, improved operating margins in both segments and $3.7 million less interest expense due to lower interest rates offset by the increase in the effective income tax rate compared to the
For the nine months, the company reported total revenues of $4,048,910,000 compared to $3,720,360,000 a year ago. Income from operations was $431,458,000 compared to $335,321,000 a year ago. Income before income taxes and equity in earnings of unconsolidated affiliates was $369,321,000 compared to $223,074,000 a year ago. Net income was $268,057,000 compared to $153,093,000 a year ago. Net income attributable to the company was $267,957,000 compared to $153,595,000 a year ago. Diluted earnings per share were $2.03 compared to $1.22 a year ago. Net cash provided by operating activities was $175,797,000 compared to $177,911,000 a year ago. Acquisition of property, equipment and software was $57,782,000 compared to $73,940,000 a year ago. Adjusted EBITDA was $524,320,000 compared to $451,862,000 a year ago. Adjusted income from operations was $435,207,000 compared to $374,912,000 a year ago. Adjusted net income was $261,569,000 compared to $191,028,000 a year ago. Diluted adjusted earnings per share were $1.98 compared to $1.51 a year ago. Net debt outstanding, defined as total debt and capital lease obligations less cash and equivalents at September 30, 2014, was $1.4 billion compared to $1.27 billion at the end of December 2013. The decrease in operating cash flow reflects an increase in payments for taxes and less cash received from upfront payments under customer contacts, partially offset by lower cash paid for interest.
The company provided earnings guidance for the full year of 2014. For the period, the company expects adjusted service revenue to be of $4.16 billion to $4.19 billion and increased diluted adjusted EPS to be of $2.61 to $2.68 per share, representing diluted adjusted EPS growth of 26.7% to 30.1% compared to 2013, with diluted GAAP earnings per share between $2.61 and $2.68 per share. The annual effective income tax rate is estimated to be approximately 30%.