Quintiles and IMS Health
today announced a global strategic alliance that will advance the way
biopharmaceutical companies generate real-world evidence (RWE) and apply
critical insights to drive late-stage clinical research. The companies say, the
move will improve clinical trial design, recruitment and execution in the
$100-billion biopharma product development market by combining IMS Health’s
global information solutions with Quintiles’ product development skills.
The combined entity, which is to be
called Quintiles IMS, will offer a distinctive global real-world evidence
solutions platform underpinned by “a leading portfolio” of anonymous patient
records, technology-enabled data collection and observational research experts,
to help address critical healthcare issues of cost, value and patient
outcomes.
On the financial side, Quintiles
and IMS Health are planning to merge in an all-stock deal worth nearly $9
billion. The merger will accelerate revenue growth, maintain financial
flexibility, offer tax benefits, and be accretive to adjusted earnings in 2017,
with cost savings to hit $100 million in three years, the parties note.
“This powerful combination brings
together leading technology and analytics with deep scientific expertise
delivered on a global scale by our 50,000 immensely talented professionals in
more than 100 markets,” said Ari Bousbib, chairman and chief executive of IMS
Health. “Our combined business will accelerate growth, yield greater operating
efficiencies and provide more flexibility for future expansion.”
The deal will leave IMS Health
shareholders with an approximate 51.4 percent stake of the combined company
with Quintiles shareholders owning the remaining 48.6 percent.
The transaction, which remains
subject to customary closing conditions, including regulatory approvals and a
green light from both IMS Health and Quintiles shareholders, is expected to
close in the second half of this year.