MDS Inc. has announced its intent to sell MDS Pharma Services, a leading provider of innovative drug discovery and early stage development solutions. Discussions are underway with interested parties who are attracted by our position as a Top Three provider in the Discovery through Phase IIa clinical proof-of-concept space, and who want to build on our strong foundation.
The intended separation from MDS Inc. is a new beginning for MDS Pharma Services and a continuation of our journey to market leadership as an early stage CRO. Our clients will continue to benefit from our leadership position in molecular screening, profiling, drug safety assessment, early clinical research and bioanalysis. And our employees will continue to execute our strategy to focus on Discovery through Phase IIa and to deliver Quality On Time client service. No disruptions in client service are anticipated as a result of this proposed change in ownership. In order to foster continuity and stability during the interim, the MDS Pharma Services leadership team will remain in place through the transition to new ownership.
MDS Inc. will continue to honor current and future commitments to our clients and to keep them informed as we move forward on our new path. By focusing on Discovery through Phase IIa, MDS Pharma Services is playing to its strengths in early stage, and like others in our industry, has shed non-core assets to concentrate on what we do best.
As previously announced, the MDS Pharma Services late stage operations are being divested. The Phase IIb-IV Global Clinical Development organization has been acquired by INC Research and a suitable buyer is being sought for Global Central Labs. Discussions with interested parties are underway. The sale of MDS Pharma Services is not contingent on the Global Central Labs divestiture.
MDS Pharma Services offers one of the outsourcing industry’s broadest service portfolios spanning Discovery through Phase IIa, with one of the largest Early Stage bed capacities in the industry with facilities in Europe and North America, and over 1,700 skilled employees at 10 facilities in six countries in Asia, Europe and North America, as well as an auxiliary office in Tokyo.
Date: September 2, 2009
Source: MDS Pharma Services
Filed Under: Drug Discovery
