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|Articles|July 21, 2005
Aptuit To Purchase Quintiles
Author(s)Pharmaceutical Technology Editors
Aptuit To Purchase Quintiles
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In a $125-million deal,
The three units now employ 1,400 (primarily in Kansas City, MO; Mt. Laurel, NJ; Edinburgh, Scotland, and Singapore) and provide services to 19 of the world's 20 largest drug companies, according to a
The statement quoted Aptuit CEO Michael A. Griffith as saying, "These business lines constitute a premier business that will form the foundation for our comprehensive drug development services offering. We gain an industry-leading team with the right expertise for our business model, a world-class customer base, GMP/GLP facilities, and a range of technologies to support and help drive drug development. From a technical and operational standpoint, the transition to Aptuit will be virtually seamless to employees and customers."
Aptuit reportedly intends to invest $50 million in reorganizing and developing the acquired businesses over the next several years.
The deal also includes a multi-year joint-marketing deal between the two companies.
–Douglas McCormick
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