QuintilesIMS now IQVIA as it aims to ‘outpace the inevitable progress of change’

By Melissa Fassbender contact

- Last updated on GMT

(Image: Getty/liuzishan)
(Image: Getty/liuzishan)
QuintilesIMS next week will officially be rebranded as IQVIA – the newest name in the “Mega-CRO” category created by the rapid and ubiquitous consolidation of the industry.

Equity shares of QuintilesIMS will trade on the NYSE under its new name, IQVIA, and new ticker symbol “IQV” beginning next week.

The name change follows the majority completion of Quintiles/IMS Health integration activates, an IQVIA spokesperson told us. Now, the company is ready to “refocus its attention outward and introduce a new brand to the market.​”

Our new brand sends a clear signal to our clients that we are committed to harnessing advances in technology, analytics and human ingenuity and deliver solutions that will help them innovate with confidence and drive healthcare forward​,” the spokesperson added.

Our vision is to outpace the inevitable progress of change across the life sciences and accelerate our ability to empower healthcare decision makers to meet the future head on​.”

By any other name: The “Mega-CRO”

IMS Health and Quintiles announced the merger in May of last year​, creating one of the world’s largest healthcare information portfolios. Following the announcement, Andrew Schafer, president of Industry Standard Research (ISR) explained​ that the integration​ of both companies’ data would be one of the key success factors of the merge.

Schafer also predicted the pace of change in the CRO industry​ would only increase, with additional mega-mergers rumored. Almost exactly a year later, INC Research and inVentiv announced their merger​, creating one of the largest biopharmaceutical outsourcing providers, and a “top three CRO​,” INC Research CEO Alistair Macdonald told us at the time.

Also this year, Covance acquired Chiltern​ and Parexel was purchased​ by the private equity firm, Pamplona Capital.

In an overview of the CRO market​, Jason Monteleone – now the CEO of Clinipace Worldwide​ – explained that this myriad M&A activity has created a new category of CROs: “Mega,” among them Covance-LabCorp, inVentiv-INC Research, PPD, and QuintilesIMS, which we now know as IQVIA.

The next mega CRO? Monteleone said that “right when you think you know what is coming next, the opposite occurs​” – though a continued interest from private equity​ and an increasing demand for outsourcing​ should keep things interesting.

Related news

Related products

show more

VDS groß

Meet the challenges of complex injectables

Vetter Pharma International GmbH | 07-Nov-2017 | Technical / White Paper

In the time it takes from the exciting discovery phase to the rigorous demands of a commercial launch, unexpected scientific and technical challenges can...

lyo_vials

Process Development for Lyophilized Products

Baxter BioPharma Solutions | 30-Oct-2017 | Application Note

Baxter approaches formulation and process development with the intention of identifying the failure points for the product. Knowing where the product fails...

Ocopeptides

Advancing therapeutics for myeloma

Recipharm AB | 04-Sep-2017 | Case Study

Multiple myeloma is the second most common blood cancer in the world and despite survival rates increasing over the last decade, there remains a requirement...

Related suppliers