Quintiles Deepens Investment in China
New Quintiles China Headquarters and Local Lab Testing Solution Announced
SHANGHAI – June 18, 2012 – In a ceremony underscoring the growing importance of China to the global biopharmaceutical industry, Quintiles executives and local dignitaries today announced agreements to establish a Quintiles regional headquarters for China in Shanghai and to significantly expand lab testing capabilities in China.
Chenggang Zhu, Vice Mayor of the Shanghai Xuhui District People's Government and executives from the Shanghai Clinical Research Centre (SCRC), Quintiles' strategic partner in the China-based lab initiative, joined Quintiles' executives at the ceremony.
"With its burgeoning economy and growing healthcare needs for its 1.3 billion citizens, China exemplifies the opportunities and challenges of the New Health," said Quintiles Executive Chairman Dennis Gillings, CBE. "By broadening our investment and infrastructure here, Quintiles is ready to partner with our biopharma customers as they look to realize China's potential."
Under a joint venture agreement, Quintiles will engage SCRC to provide lab testing services to local customers.
To provide the infrastructure essential for its growth strategy in China, Quintiles is investing US$14 million to establish a new 4,000-square-meter (43,000 square feet) headquarters in Shanghai to serve China and nearby Asian countries. The office in Feng Lin Science Park is designed to achieve LEED Gold accreditation; it is expected to accommodate more than 450 employees in the next five years.
"These investments and agreements demonstrate our commitment to this District and to China," said Ling Zhen, General Manager for Quintiles' operations in China. "Quintiles recognizes the unique needs of our customers in China. By collaborating with SCRC in labs we can help local and international biopharma companies develop new and better medicines to serve China's enormous unmet medical needs."
Rongxing Gan, President of SCRC, said: "SCRC's Central Laboratory's experienced staff and modern technology will be further enhanced through Quintiles' investments. We are delighted to work closely with Quintiles to further biopharma innovation and improve human health."
The Quintiles-SCRC collaboration follows last year's launch of Kun Tuo, Quintiles' local contract research organization, built to help local and global biopharma companies achieve successful registration of medicines in China. Quintiles commenced operations in China in 1997, and today has existing offices in Beijing, Dalian, Hong Kong and Shanghai, with employees and capabilities to serve all major population centers and study sites across China.
Quintiles is the only fully integrated biopharmaceutical services company offering clinical, commercial, consulting and capital solutions worldwide. Our network of more than 25,000 professionals in 60 countries has an eye on the future while delivering results today with an unwavering commitment to patients, safety and ethics. Quintiles helps biopharmaceutical companies develop and commercialize products to improve and lengthen patients' lives while demonstrating value to stakeholders. Visit www.quintiles.com for more information and www.quintiles.com/news for additional company news.
About Shanghai Clinical Research Center (SCRC)
SCRC is a leading full-service clinical research center in China. Founded under the collaborative framework of the Ministry of Science and Technology and Shanghai Municipality in 2008, SCRC operates as a 3rd-party full-service assessment and resources platform with global standards to make drug development more efficient. With expertise, resources, and network, SCRC endeavors to be a pioneer in the globalization of drug development in China and to be the link between pharmaceutical companies and clinical hospitals. For more information about SCRC, please visit the Website at http://www.scrcnet.org/.
Greg Connors, Investor Relations
Office: +1 919 998 2000
Stacey Hara, Media Relations
Office: +65 6602 1583