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Financial Report: Quintiles

Product Development segment up 13% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Quintiles

2Q Revenues: $1.2 billion (+9%)

2Q Earnings: $150.7 million (-5%)

Comments: Service revenues grew 8% in the quarter with Product Development segment up 13% to $890.1 million and the Integrated Healthcare Services segment down 6%. Net new business grew 24% compared to the same period last year to $1.64 billion, representing a book-to-bill ratio of 1.41 in the quarter ended June 30, 2016. Second quarter net new business contributed to an ending backlog of $12.5 billion at June 30, 2016.

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