In the CRO world, the fight to secure contracts and strategic partnerships often comes down to expertise, and Quintiles, the industry's largest outfit, believes it has a serious competitive advantage. The North Carolina CRO said it employs twice as many M.D.s and Ph.D.s as any of its competitors, giving it a leg up in the changing world of science.
Global Genomics Group is in the midst of an expansive cardiovascular study with hopes of finding new biomarkers and drug targets for coronary artery disease, and now the company has enlisted the help of CRO giant Quintiles to handle some of the necessary gene sequencing work.
Capping off a year in which it raised nearly $950 million in an up-sized IPO, Quintiles hauled in $1 billion in service revenue in the fourth quarter, a company first that sets the table for more growth in 2014.
With the spiraling amount of time and money needed to bring a drug to market weighing heavy on their Big Pharma clients, CROs have invested in efficiency boosting technology to gain a competitive edge. And the trend is tipped to continue, with an analyst predicting CROs will be at the forefront of developments in IT and genomics in 2014.
Global CRO Quintiles has struck up a deal with the Medical Affairs Company, a medical liason contractor, and the two companies plan to pool their powers in drug and device commercialization.
The Vietnamese government is looking to boost its share of the world's clinical research market, signing a deal with CRO giant Quintiles to get the ball rolling.
Quintiles was among the first CROs to jump into risk-based clinical trial monitoring, and now the world's largest contract researcher is stretching out its platform, offering adaptive services that span the whole development process.
Quintiles declined to divulge financials when it signed up to buy Novella Clinical in August, but a regulatory filing reveals that the world's largest CRO spent $146.5 million upfront for the contractor, with more money on the line tied to milestones.
Quintiles, the world's largest CRO, is raising its annual profit projection as new partnerships and soaring income made up for flat revenue in the third quarter.
India's ongoing efforts to tighten clinical trial regulations have stirred controversy among researchers around the globe, and now the world's largest CRO has shuttered one of its facilities in the country, citing a tough regulatory climate.