Quintiles announces new NovaQuest partnership

Quintiles has announced the launch of an expanded strategic partnering group under its NovaQuest brand and the cooperation of investment firm TPG-Axon Capital.

NovaQuest provides growth strategies and strategic partnerships for pharmaceutical and biotechnology companies to help further the development and commercialisation of drugs, using the commercial experience of Quintiles and Innovex. It says it has so far committed $1.5 billion to alliances between biotechnology companies and pharmaceutical firms.

It also claims to have helped to speed up the development of all 30 drugs in the top 30 best-selling drugs, as well as nine of the top-ten best selling biotechnology products.

The company says the partnership with TPG-Axon will allow it to fund strategic partnerships of virtually any size.

Quintiles chief executive officer and chairman said: “Customers can tap into our global development and commercialization infrastructure, deal-making expertise, and financial resources to create tailor-made solutions to their most significant strategic and financial challenges.”

Dinakar Singh, founder of TPG Axon, added: “I believe NovaQuest offers pharma and biotech companies ‘smart money’ – financial solutions backed by Quintiles’ expertise and capabilities in global product development and commercialization. This is a powerful resource for pharma and biotech companies seeking new solutions to major challenges.”

Quintiles is based in North Carolina and it employs approximately 16,000 staff in 50 countries. It provides development support for pharmaceutical companies developing and researching new drugs.

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