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September 01, 2015 11:07 AM ET

Life Sciences Tools and Services

Company Overview of PRA Health Sciences, Inc.

Company Overview

PRA Health Sciences, Inc., a contract research organization, provides various product development services for pharmaceutical and biotechnology companies worldwide. The company offers integrated services, such as data management, statistical analysis, clinical trial management, and regulatory and drug development consulting. Its services include a suite of product registration services, such as clinical trial management, project management, regulatory affairs, therapeutic expertise, clinical operations, data and programming, safety and risk management, biostatistics and medical writing, quality assurance, and late phase services. The company’s services also comprise strategic solutions, incl...

4130 ParkLake Avenue

Suite 400

Raleigh, NC 27612

United States

Founded in 1976

11,000 Employees

Phone:

919-786-8200

Fax:

919-786-8201

Key Executives for PRA Health Sciences, Inc.

Chairman, Chief Executive Officer and President
Age: 56
Total Annual Compensation: $1.1M
Chief Financial Officer, Executive Vice President and Secretary
Age: 57
Total Annual Compensation: $635.0K
Executive Vice President and Corporate Compliance Officer
Age: 54
Total Annual Compensation: $485.0K
Compensation as of Fiscal Year 2014.

PRA Health Sciences, Inc. Key Developments

PRA Health Sciences, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Year 2015

PRA Health Sciences, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenue of $392,848,000 against $357,545,000 a year ago. Income from operations was $38,321,000 against $17,436,000 a year ago. Income before income taxes and equity in losses of unconsolidated joint ventures was $18,843,000 against loss before income taxes and equity in losses of unconsolidated joint ventures of $8,885,000 a year ago. Net income was $12,415,000 or $0.20 per share diluted against net loss of $4,056,000 or $0.10 per share diluted a year ago. EBITDA was $52,674,000 against $36,174,000 a year ago. Adjusted EBITDA was $61,319,000 against $45,472,000 a year ago. Adjusted net income was $29,718,000 or $0.47 per share diluted against $13,994,000 or $0.34 per share diluted a year ago. Adjusted operating income was $56.2 million against $40.6 million a year ago. Capital expenditure was $9.5 million compared to $6.1 million during the same period in 2014. The increase in capital expenditure reflects ongoing investment in information technology and the expansion of facilities in the U.S. and abroad. Cash provided by operations was $26.6 million compared to $37.1 million for the same period in 2014. For the six months, the company reported total revenue of $668,486,000 against $622,774,000 a year ago. Income from operations was $71,258,000 against $28,160,000 a year ago. Income before income taxes and equity in losses of unconsolidated joint ventures was $44,989,000 against loss before income taxes and equity in losses of unconsolidated joint ventures of $25,082,000 a year ago. Net income was $29,602,000 or $0.47 per share diluted against net loss of $14,097,000 or $0.35 per share diluted a year ago. Net cash provided by operating activities was $29,957,000 against net cash used in operating activities of $3,260,000 a year ago. Purchase of fixed assets was $17,066,000 against $11,876,000 a year ago. EBITDA was $112,511,000 against $66,204,000 a year ago. Adjusted EBITDA was $117,061,000 against $85,194,000 a year ago. Adjusted net income was $55,527,000 or $0.88 per share diluted against $22,901,000 or $0.56 per share diluted a year ago. Net debt as on June 30, 2015 was $862.9 million against $1,200.7 million as on June 30, 2014. Adjusted operating income was $106.8 million against $74.4 million a year ago. For the year 2015, the company expects service revenue of $1.34 billion to $1.39 billion against previous guidance of $1.34 billion to $1.39 billion. The company expects diluted GAAP net income per share of $0.80 to $0.90 against previous guidance of $0.70 to $0.80. The company raised adjusted net income per share from $1.62 to $1.72 to $1.75 to $1.85. The company expects annual effective income tax rate of 30% against previous guidance of 30%.

Mithra Pharmaceuticals SA/NV Selects PRA Health Sciences as Clinical Research Organisation for Phase III Clinical Trial

Mithra Pharmaceuticals SA/NV announced that it has signed an agreement with PRA Health Sciences as a Clinical Research Organisation (CRO) for Mithra’s upcoming Phase III clinical trials on its product candidate Estelle, a combined oral contraceptive, composed of 15 mg of Estetrol (E4) and 3 mg of Drospirenone (DRSP). The main objective of these trials is to evaluate the contraceptive efficacy of Estelle in women aged between 18 and 35 years. This is done by measuring the overall Pearl Index (PI) (i.e. standardised measurement of contraceptive methods calculated as the number of contraceptive failures per 100 women divided by the years of exposure). The secondary objectives are to evaluate the contraceptive efficacy among the entire population (18 to 50 years old) and to evaluate the safety of Estelle. Endometrial safety will be assessed in a subset of women by performing endometrial biopsies before and at the end of the study. The trial will assess the efficacy and safety of Estelle in 1,700 patients at multiple centers across the United States and Canada and 1,500 patients at multiple centers across Europe. The selection of countries and centers will be subjected to an extensive feasibility study conducted by PRA Health Sciences. Among the countries under consideration: Belgium, France, Germany and the Netherlands.

PRA Health Sciences, Inc. to Report Q2, 2015 Results on Jul 27, 2015

PRA Health Sciences, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 27, 2015

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