IMS Health, Quintiles to merge
BY DSN STAFF
DANBURY, Conn. — IMS Health on Tuesday announced a planned merger with Quintiles, a combination that will create Quintiles IMS Holdings with an enterprise value of more than $23 billion.
“This combination addresses life-science companies’ most pressing needs: to transform the clinical development of innovative medicines, demonstrate the value of these medicines in the real world, and drive commercial success,” Quintiles CEO Tom Pike said. “We are bringing together two best-in-class leaders. I’m confident that together we will make our clients even more successful.”
Under the agreement, IMS Health shareholders will receive 0.384 shares of Quintiles common stock per IMs Health share. At the close of the merger, IMS Health shareholders will own 51.4% of the combined company’s shared, with Quintiles shareholders owning 48.6%.
The merger is aimed at improving clinical trial design and execution by combining IMS Health’s information solutions with Quintile’s product development skills. The companies expect to add 100-200 basis points to its combined annual growth rate and achieve annual run-rate cost savings of $100 million by the end of year three.
The combined company will keep dual headquarters in Danbury, Conn. and Research Triangle Park, N.C. IMS Health chairman and CEO Ari Bousbib will become chairman and CEO of Quintiles IMS, with Pike acting as vice chairman. The board will contain six IMs health appointees and six Quintiles appointees, with Dennis Gillings acting as lead director.
“Together our solutions will enable differentiation in the CRO market, advance Real-World Evidence capabilities, and deliver comprehensive commercial solutions for our clients. This powerful combination brings together leading technology and analytics with deep scientific expertise delivered on a global scale by our 50,000 immensely talented professionals in more than 100 markets. Our combined business will accelerate growth, yield greater operating efficiencies and provide more flexibility for future expansion.”
NCPA to host 2016 Congressional Pharmacy Summit May 24-25
ALEXANDRIA, Va. – The National Community Pharmacists Association on Monday announced it will hold its 2016 Congressional Pharmacy Summit May 24-25, when hundreds of community pharmacists will visit the nation's capital to advocate for community pharmacy and their patients.
"From crippling [direct and indirect remuneration, or DIR] fees to low or slow reimbursement rates from pharmacy benefit manager corporations that leave pharmacy owners struggling to provide patients the access to medication and care they need and want, the time is now to take a stand and protect patient access to community pharmacies — often the sole health provider in many communities," stated Bradley Arthur, NCPA president and co-owner of Black Rock Pharmacy and Brighton-Eggert Pharmacy in Buffalo, N.Y. "Making progress on Capitol Hill is not like 'House of Cards' or the 'West Wing' — what it really takes is a strong message from concerned citizens to affect change. I strongly urge community pharmacists from across the country to join me at the Congressional Pharmacy Summit as we advocate for bipartisan measures to support small business pharmacies and patient access to their pharmacy of choice."
Patient advocate and community pharmacy champion Rep. Cathy McMorris Rodgers, R-Wash., will serve as the featured speaker at this year's opening lunch on May 24 at the Doubletree by Hilton, Crystal City in Arlington, Va. The Summit will conclude on May 25 with pharmacist visits on Capitol Hill.
NCPA members' top legislative priorities are enacting federal and state MAC reform legislation to alleviate the delays in generic drug reimbursement updates; allowing any willing pharmacy to participate in Medicare Part D preferred networks; and passing pharmacist provider status legislation.
Pharmacist attendees can obtain more than four hours of continuing education credits at the Summit (formerly known as the NCPA Legislative Conference), which will include a legislative briefing on issues affecting community pharmacy, a workshop on how to communicate with elected officials led by congressional specialist Judy Schneider of the Congressional Research Service and updates on DIR fees and how they are currently being used in today's Medicare Part D and commercial marketplaces.
Stephen Hayes, senior writer at The Weekly Standard and a FOX News contributor, will keynote the NCPA Sal D'Angelo PAC Breakfast on May 25.
Q1 comp sales up 3.3% across Publix
LAKELAND, Fla. — Publix’s sales for the first quarter of 2016 totaled $8.7 billion, the grocer reported Monday, a 4.5% increase from the same period last year. Comparable-store sales for the first quarter of 2016 increased 3.3%. The company estimates sales increased 1.2% due to the effect of the Easter holiday being in the first quarter of 2016.
“I’m pleased that our Publix associates delivered strong results,” said Publix CEO and president Todd Jones. “Unfortunately, these results were not enough to offset the challenges in the stock market.”
Effective May 1, 2016, Publix’s stock price decreased from $45.20 per share to $43.95 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
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