Quintiles sees strong profit as drug development picks up

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Quintiles sees strong profit as drug development picks up

By Pallavi Ail (Reuters) - Quintiles Transnational Holdings, the world's largest medical contract research provider, forecast full-year profit above market expectations as drugmakers looking to launch new products choose to outsource clinical development as a way to cut costs. Chief Executive Tom Pike said drug companies had more drugs in development as approval rates increase, benefiting large contract research organizations that will run the trials for the drugmakers. ...

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