Drug-trial operator Quintiles sets terms for $750 million IPO

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Quintiles Transnational, the largest provider of clinical trial services to pharmaceutical companies, announced terms for its IPO on Friday. The Durham, NC-based company plans to raise $750 million by offering 19.7 million shares (30% insider) at a price range of $36 to $40. At the midpoint of the proposed range, Quintiles Transnational would command a market value of $4.9 billion. 

Quintiles Transnational, which was founded in 1982 and booked $4.9 billion in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol Q. Morgan Stanley, Barclays, J.P. Morgan, Citi, Goldman Sachs, Wells Fargo Securities, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal. 



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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