Quintiles Transnational Corp plans to file for IPO in 18 mths
Quintiles Transnational Corp is planning to file for the IPO in next 18 months, the news reports said, citing two people familiar with the situation.
Quintiles is the biggest provider of testing and drug-trial services to pharmaceutical companies. This company was brought in 2008 by private equity companies like TPG Capital and Bain Capital LLC in a deal worth the company at $3.8 billion.
Quintiles is a contract-research company whose revenue growth has accelerated as the drugmakers outsource trials and testing. The company has also appointed a new Chief Executive Officer Tom Pike in April and has brought up a small competitor.
During the past 12 months, Quintiles had $3.53 billion in sales, more than a quarter of the market made up by the 10 biggest contract research companies. It had research partnerships with London-based AstraZeneca Plc, Tokyo-based Eisai Co and Takeda Pharmaceutical Co based in Japan.
TPG and Bain brought Quintiles from One Equity Partners, the private-equity arm of JP Morgan Chase & Co. 3i Group Plc III and Temasek Holdings Pte, Singapore’s state-owned investment company also owns stakes in Quintiles.
Quintiles is a fully integrated biopharmaceutical services company. It offers clinical, commercial, consulting and capital solutions worldwide. The company helps biopharmaceutical companies develop and commercialize products to improve and lengthen patients’ lives.