INC Research Expands Drug Trial Expertise With Deal For Philadelphia Firm
Posted September 19, 2006 12:12 p.m. EDT
RALEIGH, N.C. — INC Research
is staying on the fast track for growth, acquiring a contract research organization in Philadelphia.
INC, which is based in Raleigh, recently moved into new headquarters and is in the processing of adding some 100 workers. The company also expanded its contract research efforts earlier this year with new offices in France, Russia and the Ukraine. Last December, INC acquired an oncology firm.
Tuesday's deal adds the resources of Pharmaceutical Resource Corporation to INC's expanded capabilities. Philadelphia Resource Corporation is focused on adult and pediatric trials in Phase III-B and Phase IV trials. Phase IV trials are follow-on programs required by the Food and Drug Administration after a drug has received FDA approval.
The Philadelphia firm employs 20 people, and all of them will join INC, according to an INC spokesperson.
Terms of the acquisition were not disclosed.
"With the addition of PRC, we are able to offer our customers a greater depth of late-phase clinical trial experience," said James Ogle, INC's chief executive officer.
INC wanted to expand its expertise in the area of Phase IV post-marketing reviews as well as what Ogle called pharmacovigilance as well as drug safety experience.
Patricia Monteforte, CEO of PRC, is joining INC as senior vice president for late phase service. Also joining INC are Kathleen Moran, who will be vice president of pharmacovigilance and drug safety. Jose Monteforte will join INC as medical director for anti-infectives.
INC will also maintain the Philadelphia location, adding it to five other U.S. centers. INC has more than 20 offices worldwide.