IQVIA Creates New Unit to Support Small Life Science Companies
IQVIA, established two years ago following the 2016 merger of Research Triangle-based Quintiles and IMS Health, has announced the launch of IQVIA Biotech. This new unit will design clinical and commercial solutions for small biotechnology and biopharmaceutical companies.
IQVIA Biotech will be supported by more than 1,000 employees and will work with customers to more effectively move new medicines through the development pipeline. It will provide simplified operating procedures, specialized teams and services that support the process all the way from initial planning through product commercialization.
“Biotech companies are advancing the drug development pipeline forward and when they succeed, we all succeed,” said Richard Staub, president of research and development solutions at IQVIA. “By launching IQVIA Biotech as the first-of-a-kind global business, we can support biotech clients with local teams and our full suite of capabilities, from molecule to market.”
IQVIA CEO and Chairman Ari Bousbib said the new unit, or solution suite, combines “two decades of institutional experience supporting emerging biopharma companies...to focus on the immediate goals of our biotech customers.” The division will concentrate on a number of therapeutic areas including oncology, the central nervous system, dermatology, cardiovascular and immunology.
IQVIA is a global leader in health information technologies and contract research. The company employs about 58,000 employees in more than 100 countries. It reported annual revenue of more than $8 billion in 2017.
Staub said the IQVIA Biotech launch will not result in any immediate changes to head count in North Carolina. “We do, however, expect to increase headcount as needed over time to serve this rapidly growing market segment.”
He added that Chris Giordano has been named president of IQVIA Biotech. Giordano held the same position at Novella Clinical, a Quintiles company, prior to the launch of IQVIA Biotech as a newly created separate division.
IQVIA helps pharmaceutical companies conduct clinical trials for new medicines and supports other “molecule-to-market” functions. Clients include biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders.
Quintiles merged with IMS Health in 2016 to become QuintilesIMS and then changed its name to IQVIA in 2017.