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Financial Report: Quintiles

Product Development revenues up 9% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Quintiles

1Q Revenues: $1.3 billion (+6%)

1Q Earnings: $90.2 million  (+87%)

Comments: Product Development revenues grew 9% to $770.8 million, with growth in core clinical services in North America, clinical trial support services, and increases in global labs, and the Novella acquisition in 2013. Integrated Healthcare Service revenues were up 8% to $234.5 million, primarily due to increases in Japan and North America, as well as growth in real-world and late phase research services. Net new business wins were $1.27 billion in the quarter, representing a book-to-bill ratio of 1.27, contributing to an ending backlog of $10.1 billion at March 31st.

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