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Financial Report: Quintiles

Product Development revenues up 8% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Quintiles

3Q Revenues: $1.4 billion (+17%)

3Q Earnings: $92.7 million (+39%)

YTD Revenues: $4.0 billion (+8%)

YTD Earnings: $268.1 million (+75%)

Comments: Net new business grew 12.8% to $1.5 billion representing a book-to-bill ratio of 1.42 in the quarter, contributing to an ending backlog of $10.8 billion at September 30. Product Development service revenues grew 8% to $771.4 million in the quarter driven by increases in global lab services, clinical trial support services, functional resource services and the Novella acquisition in 2013. Integrated Healthcare Services revenues increased 33% to $289.6 million, including $19.2 million from the Encore acquisition.

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