IQVIA

History

IMS Health

Quintiles

Quintiles was the world's largest provider of biopharmaceutical development and commercial outsourcing services. The company offered clinical data management, clinical trial execution services, pharmaceuticals, drug development, financial partnering, and commercialization expertise to companies in the biotechnology, pharmaceutical and healthcare sectors.

In 1982, Dennis Gillings founded and incorporated Quintiles Transnational in North Carolina. Quintiles Transnational established Quintiles Pacific Inc. and Quintiles Ireland Ltd. in 1990. In 1991 Quintiles GmbH was established in Germany and Quintiles Laboratories Ltd. was established in Atlanta, Georgia. In September 1996, Quintiles purchased Innovex Ltd. of Britain for $747.5 million in stock. Quintiles went public in 1997 and completed a successful secondary stock offering.

• In 1974, Dennis Gillings signs the first contract to provide statistical and data management consulting for pharmaceutical clients.
• In 1982, Quintiles, Inc., is incorporated in North Carolina.
• In 1990, Quintiles Pacific Inc. and Quintiles Ireland Ltd. are established.
• In 1991, Quintiles GmbH is established in Germany; Quintiles Laboratories Ltd. is established in Atlanta, Georgia.
• In 1996, Quintiles buys Innovex Ltd. and BRI International Inc., becoming the world's largest CRO.
• In 1997, Quintiles goes public, completing a successful secondary stock offering.
• In 1998, Quintiles becomes the first company in the industry to break the $1 billion mark, when it reports net revenues of $1.19 billion.
• In 1999, the company joins the S&P 500 Index.
• In 2003, the Board of Directors agrees to merge with Pharma Services Holdings Inc; Quintiles becomes a private company.
• In 2009, Quintiles opens new corporate headquarters in Durham, North Carolina.
• In 2010, Quintiles opens new European headquarters in the UK and establishes operations in East Africa.
• In 2011, Quintiles buys Advion Biosciences, a bioanalytical lab based out of Ithaca, New York.
• In 2013, Quintiles filed for an IPO on 15 February in order to go public again; Quintiles begins trading on the New York Stock Exchange (NYSE) under ticker symbol Q."

Merger of IMS Health and Quintiles

In October 2016, Quintiles merged with IMS Health to form QuintilesIMS. In November 2017, the company adopted the new name of IQVIA.

Controversies

IMS Health's business of collecting and selling pharmaceutical sales data, even though it is anonymized, was under scrutiny from both the media and the legal system.

IMS Health v. Ayotte was a free speech case involving IMS Health.

*Sorrell v. IMS Health Inc. *was a case about physician-data privacy, which went to the U.S. Supreme Court. The High Court ruled in favor of the company.

IQVIA was contracted by the UK government's Office of National Statistics to provide data on the prevalence of COVID-19 infection in the population. Some users of the survey reported problems contacting IQVIA and arranging for testing. The problems with how the survey results were collected were criticised for potentially leading to biased data by New Scientist.

On July 17, 2023, the Federal Trade Commission sued to block IQVIA’s acquisition of Propel Media alleging in an administrative complaint that the acquisition would give IQVIA a market-leading position in health care programmatic advertising and would raise health-care prices for consumers. In December 2023, U.S. District Court Judge Edgardo Ramos issued an order granting the FTC’s motion for preliminary injunction to block the merger. Speaking in favor of the FTC, Ramos said, "The FTC has shown that there is a reasonable probability that the proposed acquisition will substantially impair competition in the relevant market and that the equities weigh in favor of injunctive relief." An administrative trial was scheduled to start on January 18, 2024. However, on January 5, 2024, IQVIA and Propel Media announced that they had mutually agreed to abandon the proposed merger.

References

References

1. (February 13, 2025). "IQVIA Holdings, Inc. 2024 Annual Report (Form 10-K)". [[U.S. Securities and Exchange Commission]].
2. "Fortune: IQVIA". [[Fortune (magazine).
3. "Forbes: IQVIA". [[Forbes]].
4. Steinbrook, R. (Jun 29, 2006). "For sale: physicians' prescribing data.". The New England Journal of Medicine.
5. Henderson, Jennifer. (3 October 2016). "Quintiles, IMS Health complete merger". [[American City Business Journals]].
6. Liu, Angus. (November 8, 2017). "QuintilesIMS no more. Say hello to IQVIA". [[Fierce Biotech]].
7. Matthew Herper. (November 22, 2010). "Money, Math and Medicine". Forbes Magazine.
8. "Quintiles Pacific, Inc.: Private Company Information - Businessweek".
9. "Quintiles Laboratories Limited: Private Company Information - Businessweek".
10. (2005). "Quintiles Transnational Corp". Encyclopedia.com.
11. Olivia Oran. (9 May 2013). "Quintiles IPO raises more-than-planned $947 million as stocks rally". Reuters.
12. (3 May 2016). "Quintiles is merging with IMS in a deal worth about $9 billion". [[Fortune (magazine).
13. (3 May 2016). "Quintiles, IMS Health Plan $9B Merger". [[Genetic Engineering and Biotechnology News]].
14. (3 May 2016). "IMS Health to Buy Quintiles in $9 Billion Pharma Data Deal". [[Bloomberg News]].
15. Holm, Erik. (3 May 2016). "Deals of the Day: IMS Health Merges With Quintiles, Biogen to Spin Off Hemophilia Arm". [[The Wall Street Journal]].
16. Tanner, Adam. (January 6, 2014). "Company that Knows What Drugs Everyone Takes Going Public". [[Forbes]].
17. Baxter, Alexander D.. "IMS Health v. Ayotte: A New Direction on Commercial Speech Cases". [[Berkeley Technology Law Journal]].
18. Shapiro, Ilya. (28 April 2009). "IMS Health v. Ayotte | Cato Institute". [[Cato Institute]].
19. Bibet-Kalinyak, Isabelle. (2012). "Critical Analysis of Sorrell v. IMS Health, Inc.: Pandora's Box at Best". Food & Drug L.J..
20. (23 November 2010). "IMS Health Wins Court Attack on Vermont Marketing Law". Bloomberg.
21. Law360 11 August, 2011. [http://www.law360.com/articles/261718/inside-sorrell-v-ims-health Inside Sorrell V. IMS Health]
22. Adam Liptak for the New York Times. 23 June 2011 [https://www.nytimes.com/2011/06/24/business/24bizcourt.html?pagewanted=all Drug Makers Win Two Supreme Court Decisions]
23. Gayland Hethcoat [http://www.quinnipiac.edu/prebuilt/pdf/SchoolLaw/HealthLawJournalLibrary/11_15QuinnipiacHealthLJ187(2011-2012).pdf Regulating Pharmaceutical Marketing After Sorrell v. IMS Health Inc.] Quinnipiac Health Law Journal. 2012 Vol. 15:187
24. Vaughan, Adam. "UK's vital covid-19 infection tracking survey deluged by complaints".
25. Vaughan, Adam. "UK's official statisticians had concerns over covid-19 survey bias".
26. (2024-01-03). "Statement on FTC Win Securing Temporary Block of IQVIA's Acquisition of Propel Media".
27. "IQVIA Drops as FTC Temporarily Blocks Its Acquisition of Propel Media".
28. "FTC Gets Court Backing to Halt IQVIA's Purchase of Propel Media".
29. "IQVIA Drops Plan to Purchase Propel Media After FTC Injunction".