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Financial Report: Quintiles

1Q Product Development segment up 12%

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By: Kristin Brooks

Managing Editor, Contract Pharma

Quintiles

1Q Revenues: $1.5 billion (+11%)

1Q Earnings: $109 million (+26%)

Comments: Net new business was $1.03 billion in the quarter, representing a book-to-bill ratio of 0.93. The Product Development segment new business totaled $799 million, up 12% driven by Q2 Solutions and volume-related increases in core clinical services and clinical trial support services, offset by a decline in advisory services and negatively impacted by $6.9 million of unfavorable foreign currency fluctuations. The Integrated Healthcare Services segment net new business totaled $227 million, down 3% from unfavorable foreign currency fluctuations.

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