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IQVIA 3Q Results

Research & Development Solutions revenue up 7% to $2.1 billion.

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By: Kristin Brooks

Managing Editor, Contract Pharma

IQVIA
3Q Revenues: $3.7 billion (+5%)
3QEarnings: $303 million (+7%)
YTD Revenues: $11.1 billion (+4%)
YTD Earnings: $889 million (+3%)
Comments: Technology & Analytics Solutions (TAS) revenue was $1.4 billion, up 2% in the quarter. Research & Development Solutions (R&DS) revenue was $2.1 billion, up 7%. Contract Sales & Medical Solutions (CSMS) revenue was flat at $183 million.
 
At the end of the quarter, R&DS contracted backlog, including reimbursed expenses, was $28.8 billion, up 11.7 percent year-over-year. The company expects approximately $7.4 billion of this backlog to convert to revenue in the next twelve months. The third-quarter book-to-bill ratio was 1.24x. For the twelve months ended September 30, 2023, the book-to-bill ratio was 1.33x.

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