Big pharma, Biotech, Partnering, Pharma

BMS biopharma partners with Quintiles for central lab services

Posted on 16 April 2013

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Bristol-Myers Squibb, a big pharma company, biopharma partners with Quintiles, selecting the CRO giant to handle global central lab services for its pipeline treatments.

The 5-year partnering deal also tasks Quintiles with biomarker testing and assay development, the company said, adding to the CRO's all-star roster of partners in Big Pharma.

Neither of the biopharma partners is discussing financial terms or getting into specifics about which therapeutic areas the partnership will cover, but the deal comes as Bristol-Myers Squibb prepares to spend $250 million to ramp up its R&D efforts, expanding biologics manufacturing and hiring 350 workers.

As for Quintiles, this is the first bit of officially released news from the CRO since it announced plans to go public in February. Since filing with the SEC, the company has been silent on just how many shares it intends to offer, listing a $600,000 million IPO that could well increase as it moves through the process.

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