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    Home > Active Ingredient News > Drugs Articles > Cro pattern of Kuntai + quest consolidated business is about to change greatly

    Cro pattern of Kuntai + quest consolidated business is about to change greatly

    • Last Update: 2015-04-02
    • Source: Internet
    • Author: User
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    Source: the merger and reorganization of e-medicine Facebook on April 2, 2015 has been the theme of the whole cro industry for many years, and the market share is constantly changing in the pace of merger, anti super merger, re merger and re super merger It can be predicted that with the merger of Kuntai and quest in the central laboratory business, the whole cro market pattern will start to brew huge changes due to this joint venture Kuntai and quest will each hold 60% and 40% of the joint venture, and the deal is expected to close in the third quarter of 2015 However, specific financial details were not disclosed According to the data in 2014, the income of the joint venture is about $575 million, which will become the second largest central laboratory service company in the world Kuntai said that the current market size of the central laboratory business is nearly US $2 billion, and predicted to grow at an annual growth rate of 5% "What we need to do now is to bring our central laboratory, genomics and bioanalysis services business to this new joint venture and merge with Quest's clinical trials business," Kuntai CEO Tom Pike said in a conference call on March 31 Steve rusckowski, the CEO of quest, said that the expertise, logistics and supply chain network that quest serves half of doctors in the United States will bring valuable experience to new joint ventures Speaking about the new joint venture, pike also said that customers would be given an advanced testing catalog that included services for clinical trials In addition, it will provide end-to-end accompanying diagnostic development services for customers, including regulatory approval, medical insurance reimbursement and sales strategy The new company will also provide precision medicine services to biopharmaceutical companies in particular Pike believes that over time, central laboratory services have become more and more complex Last year, 41 innovative new drugs were approved by the FDA, nine of which involved the detection of biomarkers At present, more than half of biopharmaceutical companies' products under development need relevant biomarkers to accompany diagnosis Analysts are generally optimistic about the prospect of this cooperation According to Garen Sarafian, an analyst at Citi, the deal is positive for Kuntai, and it can be a big deal for quest while better competing with labcorp's central laboratory business Labcorp, the world's largest independent laboratory company, announced in November that it would buy Covance, another cro company, for about $6.1 billion In addition to clinical trial related laboratory services, Kuntai and quest hope to cooperate in other areas, such as adopting new methods to improve patient recruitment and retention, accelerating the validation, development and sales of accompanying diagnosis, enhancing support for late stage research, and developing new demographic health analysis tools Over time, the joint venture will further strengthen synergies after integration, Pike said The leadership of the joint venture includes Costa panagos, senior vice president from Kuntai, and John Haydon, vice president from quest.
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