INC Research Confirms Completion Of Merger With InVentiv Health

INC Research Holdings Inc (NASDAQ: INCR) confirmed Tuesday its merger with inVentiv Health, Inc. has closed. The former is a global contract research organization that focuses on phase 1 through 4 clinical development services for the biopharmaceutical and medical device industries, while the latter is a privately held global CRO and contract commercial organization.

INC Research announced in early May it would merge with inVentiv Health to create the world's second largest pharmaceutical outsourcing provider. The combined entity was estimated to be valued at $7.4 billion and is expected to perform better through greater offerings to clients and generate synergies.

In a press release Tuesday, INC Research said that its combination with inVentiv Health will also create the "only fully integrated biopharmaceutical solutions organization, including an end-to-end CRO and CCO. The new company will continue trading under the stock symbol "INCR" but will be renamed as INC Research/inVentiv Health in an interim basis until a relaunch under a new brand next year.

Alistair Macdonald, CEO, INC Research/inVentiv Health, said: "The closing of this deal marks the beginning of an industry-changing new company, purpose-built to achieve the singular goal of accelerating biopharmaceutical performance. INC Research/inVentiv Health will address new market realities through shared clinical and commercial expertise, data and insights to meet the needs of biopharmaceutical companies of all sizes. This strategic combination enhances our ability to facilitate approvals and product launches in multiple markets worldwide, and the value we offer to employees, customers and our shareholders."

Michael Bell, executive chairman of the board of directors and president, commercial division, INC Research/inVentiv Health, added: "With the industry's most comprehensive clinical and commercial solutions continuum, the Board and I are confident in the company's ability to meet the needs of biopharmaceutical companies who are navigating an increasingly complex marketplace. Customers will benefit from enhanced global scale, deep therapeutic alignment and integrated solutions, including market access and Real World Evidence. We are pleased with transition progress to date, look forward to supporting our talented management team and are committed to enabling our customers to speed the delivery of therapies to the patients who need them most."

Related Links:

Jefferies Highlights A Pair Trade In Pharma: Buy ICON, Hold Tight On INC Research

10 Stocks To Watch For August 1, 2017