HONG KONG and SINGAPORE and RESEARCH TRIANGLE PARK, N.C., June 9
/PRNewswire-FirstCall/ -- Three global companies have announced a joint
venture to commercialize pharmaceutical products in the Asia Pacific region.
Partners in the joint venture, which will have an investment fund totaling
US$112 million, include leading Asia Pacific pharmaceutical services group,
Interpharma Asia Pacific, parent of drug distributor Zuellig Pharma; Asia
investment company Temasek Holdings (Private) Limited; and Quintiles
Transnational Corp., the world's leading pharmaceutical services organization,
who has signed a letter of intent to join the venture. Each partner is
expected to make an equal investment in the joint venture and own one-third
each of the company.
The joint venture will draw on each partner's wide market knowledge,
experience and success in both the Asia Pacific and global healthcare markets
to acquire existing and new pharmaceutical products from research-based drug
companies targeted at the needs of the Asia Pacific region. This service helps
drug companies focus their resources on R&D and provides outsourcing for
product registration and sales and marketing of their mature brand portfolios.
PharmaLink, the specialist Asia Pacific pharmaceutical marketing services
division of Interpharma, will be transferred to the new JV and will help
negotiate the acquisition of these products and their subsequent marketing in
the Asia Pacific healthcare market. Zuellig Pharma will provide distribution
and logistics expertise. Quintiles will contribute regional commercialization
expertise and experience in pharmaceutical outsourcing partnerships.
Mr Fritz Horlacher, Chief Executive of Interpharma said, "Interpharma has
been in Asia Pacific for more than 60 years and operates in 13 countries in
the region. We believe that we will be able to actively apply our experience
and knowledge of local Asian markets. We are pleased to partner with Temasek
and Quintiles in this venture as we all share a common vision of the exciting
growth opportunities in the Asia Pacific healthcare environment."
Dr Dennis Gillings, CBE, Chairman and Chief Executive Officer of Quintiles
Transnational said, "The joint venture can provide flexible solutions for
pharmaceutical customers in the Asia Pacific region in managing their product
portfolios. Quintiles' global clinical knowledge aids in portfolio evaluation
and our experience in commercialization and pharmaceutical partnerships
complements well the capabilities of our JV partners. Together, we are a
commercialization powerhouse."
Mr S Iswaran, Managing Director, Strategic Development of Temasek Holdings
said, "Temasek has invested in several biotech and pharma ventures globally.
This investment fits in well with our view of growth prospects for Asia and
our overall investment strategy for the life sciences. We are pleased to
partner with Interpharma and Quintiles, whose knowledge, networks and
experience in Asia Pacific will be valuable to the success of this joint
venture."
According to a leading source of pharmaceutical market intelligence, the
Asia Pacific pharma market, currently estimated to be US$21 billion, has more
than doubled over the last 10 years and is projected to double again over the
next 10 years.
The joint venture will be managed by a professional team led by Mr Brian
Nichols, Chief Executive of PharmaLink, who has more than 30 years' experience
in the pharmaceutical industry in Asia Pacific. Formation of the three-way
joint venture is subject to the execution of definitive agreements, which is
expected to occur in a few months.
About Interpharma
Interpharma Asia Pacific is a pan-regional enterprise operating various
business units across Asia including Pharma Industries, Zuellig Pharma and
PharmaLink. These business units provide services to the multi-national R&D-
based pharmaceutical manufacturers. Please visit http://www.zuelligpharma.com/ip
Pharma Industries is a leading provider of contract pharmaceutical
manufacturing services in the Asia Pacific region. It provides product
development, planning & procurement and commercial manufacturing services.
Please visit http://www.pharmaindustries.com
Zuellig Pharma, the distribution and logistics division of Interpharma, is
Asia Pacific's leading provider of cutting-edge logistics services covering
inventory management, warehousing, distribution and customer order management.
Please visit http://www.zuelligpharma.com
PharmaLink, the specialist marketing services division of Interpharma Asia
Pacific, offers the complete marketing solution in Asia Pacific. With
expertise in orphan drug management, regulatory affairs and sales and
marketing teams, PharmaLink is Asia's leading sales and marketing
organization, being the ideal healthcare marketing partner, providing a
complete range of marketing services and support solutions that are attracting
more pharmaceutical companies, seeking to increase their growth or expand
operations into Asia Pacific. PharmaLink has established a reputation for
sales and marketing excellence with over 1,600 sales representatives marketing
products in over 19 therapeutic areas.
For more information, please visit: http://www.pharmaLink.com
About Quintiles Transnational
Quintiles Transnational Corp. helps improve healthcare worldwide by
providing a broad range of professional services, information and partnering
solutions to the pharmaceutical, biotechnology and healthcare industries.
Headquartered near Research Triangle Park, N.C., USA, Quintiles has offices in
50 countries and is the world's leading pharmaceutical services organization.
For more information, visit the company's website
at http://www.quintiles.com
Information in this press release contains "forward-looking statements."
These statements involve risks and uncertainties that could cause actual
results to differ materially, including, without limitation, the risk that the
parties might not reach final agreement as planned and the joint venture might
not commence operations as planned or at all. Additional factors that could
cause actual results to differ materially are discussed in Quintiles' recent
filings with the Securities and Exchange Commission, including but not limited
to its annual report on Form 10-K, its quarterly report on Form 10-Q and its
current reports on Form 8-K.
About Temasek Holdings
Temasek Holdings is an Asia investment company headquartered in Singapore.
It is committed to maximizing long-term shareholder value as an active
investor and shareholder of successful enterprises.
Established in 1974, it manages a diversified global portfolio of US$54
billion, spanning Singapore, Asia and the OECD economies. Its investments are
in a range of industries: telecommunications and media, financial services,
property, transportation and logistics, energy and resources, infrastructure,
engineering and technology, as well as pharmaceuticals and biosciences.
Singapore-based Temasek-linked companies include well-known listed firms
such as Singapore Airlines, SingTel, DBS Bank, SMRT Corporation and Neptune
Orient Lines. Its overseas investments include ICICI Bank, Matrix Laboratories
and the Apollo Hospital group in India, Bank Danamon and Bank Internasional
Indonesia in Indonesia, Quintiles Transnational Corp in the US, as well as
Telekom Malaysia.
For more information, please visit: http://www.temasekholdings.com.sg
SOURCE Quintiles Transnational Corp.
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Related links:
http://www.quintiles.com
http://www.zuelligpharma.com/ip
http://www.pharmaindustries.com
http://www.zuelligpharma.com http://www.pharmaLink.com
CONTACT:
Mr Mike Hampton, Regional Manager Strategic
Projects of Interpharma Asia Pacific, +852 2845 2677, or fax,
+852 2877 5647, or mhampton@zuelligpharma.com ; or Pat Grebe, VP,
Corporate Communication of Quintiles Transnational,
+1-919-998-2000, or pat.grebe@quintiles.com ; or Ms Rachel Lin,
Associate Director, Corporate Communications of Temasek Holdings,
DID, +65 6828 6766, or Mobile, +65 96661855, or Fax, +65 6828
6266, or rachellin@temasek.com.sg ; or Mr Brian Nichols, Chief
Executive of PharmaLink, +852 2588 8103, or fax, +852 2877 5647,
or bnichols@pharmalink.com
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