Canada's MDS has sold off its Phase II-IV clinical development ops to INC Research for $50 million. And with the focus at MDS shifting to early-stage research, executives say they have also put their central labs operation on the market.
INC's deal for the Phase II-IV CRO business includes 800 employees working in 25 countries. "This acquisition reinforces our long-standing commitment... to continuously improve service in areas most important to our customers--therapeutic expertise, talent and experience, and a broader geographic footprint," said INC CEO Jim Ogle.
"While our investments in MDS Pharma Services' Late Stage have significantly strengthened the business, further success requires greater scale," said MDS chief Stephen DeFalco. "By divesting our Phase II-IV operations, we will be better able to take advantage of our core competencies in Early Stage."
- check out the press release
- read the report from the Canadian Press