Acquisition Gives INC Research Customers Expanded Late-Phase Trial Expertise

RALEIGH, NC - September 19, 2006 - INC Research®, a therapeutically focused contract research organization with a trusted process for delivering reliable results, announced today that it has acquired Pharmaceutical Resource Corporation (PRC), a suburban Philadelphia-based contract research organization (CRO) specializing in adult and pediatric trials in phases IIIb and IV. 

“With the addition of PRC, we are able to offer our customers a greater depth of late-phase clinical trial experience,” said James T. Ogle, chief executive officer of INC Research. 

Industry experts have indicated that the Food and Drug Administration (FDA) has increased its demand for late phase clinical trials and boosted its monitoring capacity for industry post-marketing commitments   Studies indicate 73 percent of recent new drug approvals received FDA requests for post-marketing studies.  Based on this increased regulatory scrutiny, the number of Phase IV studies will continue to increase.  

 “Our customers have demanded strong pharmacovigilance and drug safety expertise as an integral component of their studies as well,” added Ogle.  “PRC has the reputation and the proven track record to fit both of these needs.  We welcome PRC’s outstanding team to the INC Research family.”

Patricia Monteforte, president and chief executive officer of PRC, will join INC Research as senior vice president, late phase services, leading the late phase clinical trial team and its projects.  “Our team is excited about the opportunities that lie ahead,” stated Monteforte. “Our customers will benefit greatly from the therapeutic foresight offered only by INC Research.”

The acquisition brings additional expertise to INC Research with the inclusion of new leaders such as Kathleen Moran, who will become vice president, pharmacovigilance and drug safety; and Joseph Monteforte, M.D., who will become medical director, anti-infectives, among others.  

PRC’s Philadelphia area facility will become the sixth of INC Research’s North American locations, and will include a second full service US data hub.  INC Research plans further expansion of its northeast operations to occur rapidly, drawing from the readily available pool of qualified and experienced scientific and technical professionals in the region.

INC Research’s investment banking and capital advisory team, Fairmount Partners, was instrumental in this acquisition process.

About INC Research®
INC Research is a therapeutically focused contract research organization with an unrivaled reputation for conducting global clinical development programs of the highest integrity.  Pharmaceutical and biotechnology companies look to INC Research for a complete range of customized Phase 1 - Phase 4 programs in therapeutic areas of specialty, and in innovative pediatric trials. Our “Trusted Process™” methodology and therapeutic foresight leads our customers to more confident, better-informed drug and device development decisions. INC Research is headquartered in Raleigh, North Carolina, and in 21 locations worldwide. For more information, visit www.incresearch.com.