|Traded as||NYSE: Q|
|Industry||Contract Research Organization
Pharmaceutical Service Consulting
|Headquarters||Durham, North Carolina, USA|
|Dennis Gillings, Executive Chairman
Tom Pike CEO
; Paula Brown Stafford, President Clinical
|Products||Support services for pharmaceutical, biotech and medical companies and individuals|
|Revenue||US$ Approximately $4.2 billion in Service Revenue (2014)|
Number of employees
|~ 32,000 (2015)|
Quintiles Transnational (NYSE: Q), is a Fortune 500 company and the world’s largest provider of biopharmaceutical development and commercial outsourcing services with a network of more than 32,000 employees conducting business in approximately 100 countries.
Quintiles is the world’s largest contract research organization as ranked by reported service revenues, and is focused primarily on Phase II-IV clinical trials and associated laboratory and analytical services. Quintiles' Integrated Healthcare Services supports diverse functions, including contract pharmaceutical sales in many geographic markets, as well as a growing number of healthcare business services, such as outcome-based and payer/provider services.
In 1974 Dennis Gillings signed the first contract to outsource statistical and data management consulting for pharmaceutical clients.
In 1975 an executive from the drug giant Hoechst (now Sanofi-Aventis)— at that time the world's largest drug company—phoned thirty-year old, a professor of biostatistics at the University of North Carolina, Chapel Hill. In 1975 56 West Germans had died while taking Hoechst's diabetes pill. Hoechst wanted to sell the drug in the United States. Hoechst hired Gillings whose research concluded that, "Patients with kidney failure were building up toxic doses of the drug. The drug made it to the market with alerts about using lower doses in kidney patients."
From this incident in the 1970, Gillings realized that "there were things drug companies needed done that he could do better than they could. While drug companies were great at inventing new medicines, they were often in over their heads when it came to analyzing mountains of data from clinical trials."
"It became apparent that there was the possibility of making the pharmaceuticals sector more efficient."— Gillings 1996
Quintiles Transnational established Quintiles Pacific Inc. and Quintiles Ireland Ltd. in 1990 and in 1991 Quintiles GMBH was established in Germany and Quintiles Laboratories Ltd. were established in Atlanta, Georgia.
In September 1996 Quintiles purchased two companies using its own "high-flying stock." By October they planned to purchase Innovex Ltd. of Britain for $747.5 million in stock. They agreed to buy BRI International Inc., "a closely held research company, for about $134 million in Quintiles's stock." By 1996 when Quintiles purchased Innovex Ltd. and BRI International Inc., Quintiles became the world's largest CRO. At that time Gillings described Quintiles as "primarily an outsourcing and information company".
"We sell a lot of information about pharmaceuticals and medical devices. We are beginning to move strongly into the health economics and outcomes research that determines whether large purchasers -- such as H.M.O.'s, insurance companies, large employers, the states and the World Health Organization -- regard the drugs as cost effective."— Gillings 1996
Quintiles went public in 1997 and completed a successful secondary stock offering.
In 1998 Quintiles was the first company in the biotech industry to break the $1 billion mark, when it reported net revenues of $1.19 billion.
In 1999 Quintiles joined the Standard & Poor 500 Index.
In 2003 the Board of Directors agreed to merge with Pharma Services Holdings Inc and Quintiles becomes a private company.
In 2009 Quintiles opened new corporate headquarters in Durham, North Carolina.
In 2010 Quintiles opened new European headquarters in the UK and established operations in East Africa.
In 2011 Quintiles acquired Advion Biosciences, a bioanalytical lab based out of Ithaca, New York.
Dennis Gillings was inducted into the CBE.
- Matthew Herper (November 22, 2010). "Money, Math and Medicine". Forbes Magazine. Retrieved July 21, 2011.
- Milton Freudenheim (October 8, 1996), High-Flying Quintiles to Buy Innovex in $747.5 Million Deal, New York Times, retrieved July 21, 2015
- Wall Street Journal, May 9, 2013