QuintilesIMS announces new business segments, share repurchase program

In its first quarter after the merger of Quintiles and IMS Health, the newly formed single company said it has kick-started a $1.5 billion repurchase of QuintilesIMS’s ($Q) outstanding common stock as it also forms new business units.

The repurchases, usually done to help boost the value of remaining shares on the market, should be completed by next year, according to the co’s statement.

The new entity was earlier this year meant to be valued at around $19 billion, but yesterday Quintiles IMS Holdings was worth $17.78 billion, with its share price falling steadily over the past month.


Like this story? Subscribe to FierceBiotech!

Biopharma is a fast-growing world where big ideas come along every day. Our subscribers rely on FierceBiotech as their must-read source for the latest news, analysis and data in the world of biotech and pharma R&D. Sign up today to get biotech news and updates delivered to your inbox and read on the go.

After announcing a re-jig of its exec team back in August, the firm has this week also created three new reporting segments: Commercial Solutions, Research & Development Solutions and Integrated Engagement Services.

The Commercial Solutions segment includes nearly all of the IMS legacy businesses as well as the Quintiles legacy real world late phase, payer/provider and advisory businesses.

The R&D Solutions segment includes much of the Quintiles legacy product development segment, and the Integrated Engagement Services segment includes most of Quintiles legacy contract sales organization businesses.

During its third quarter report, the combined company said its Q4 revenue guidance was $1.95 billion to $1.99 billion, with an adjusted diluted EPS of $1.04 to $1.08 per share. 

Suggested Articles

Oncology is clearly a major medical and societal issue, but one that sees too much focus from biopharmas at the expense of other killers.

The Mayo Clinic tapped data analytics firm nference to build out an AI-powered engine to collate its years of clinical records and pathology work.

At the annual J.P. Morgan Healthcare Conference, major CRO Charles River Laboratories and Takeda announced a new preclinical tie-up.