NEW YORK, July 6 /PRNewswire/ -- To celebrate the formation of IMS HEALTH,
the company's chairman and chief executive officer, Robert E. Weissman, rang
the opening bell to signal the start of today's trading on the New York Stock
Exchange (NYSE).
Immediately following the bell ringing on the balcony, Weissman,
accompanied by the IMS HEALTH executive management team, adjourned to the
trading floor where he purchased the first IMS HEALTH shares of the day.
"This was more than just a symbolic reaffirmation of my confidence in our
ability to meet the growing information needs of the global pharmaceutical
industry," Weissman said. "Our prospects as a high-growth company serving a
dynamic healthcare industry are very exciting."
Shares in the new company trade on the NYSE under the symbol "RX," which,
Weissman told brokers, "is the 'new prescription' for growth." Shares of IMS
HEALTH began trading on a "when-issued" basis on June 23, while "regular-way"
trading started on July 1 when the company completed its spin-off from
Cognizant Corporation.
Standard & Poor's Financial Information Services replaced Cognizant with
IMS HEALTH in the S&P 500 Index on June 30, which, Weissman said, provides the
company with a broader exposure to investors "who want to participate in the
growing healthcare information industry."
IMS HEALTH began its new corporate existence with a projected capital
structure that included $675 million in cash, non-cash assets of $1.2 billion
and shareholder equity of over $1 billion.
IMS HEALTH
IMS HEALTH is the world's leading provider of information solutions to the
pharmaceutical and healthcare industries. With more than $1 billion in 1997
revenue, IMS HEALTH operates in over 90 countries. IMS HEALTH is the largest
pharmaceutical manufacturer information partner, with over 40 years'
experience in the industry. Key products and services integral to customer
day-to-day operations include: market research for prescription and
over-the-counter pharmaceutical products; sales management information to
optimize sales force productivity; technology enabled selling solutions for
sales and marketing decision-making; and technology systems and information
services that support managed care organizations.
Additional information is available at http://www.imshealth.com.
SOURCE IMS HEALTH
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Related links:
http://www.imshealth.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 115785
CONTACT:
Michael Gury of IMS HEALTH, 203-222-4230
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