Careers at QuintilesIMS
QuintilesIMS provides a range of biopharmaceutical development services and commercial outsourcing services to companies operating in the pharmaceutical and medical sectors, with a view to optimizing their commercialisation and clinical trials processes.
QuintilesIMS organises its operations into two reportable business segments:
- Product Development, which comprises the Company’s clinical solutions and services and consulting, and provides services and expertise that enable biopharmaceutical companies to outsource the clinical development process from first-in- man clinical trials to post-launch monitoring; and
- Integrated Healthcare Services, which provides the healthcare industry with customised commercialisation designed to accelerate the commercial success of biopharmaceutical and other health-related products by recruiting, training, deploying and managing a global sales force, and providing channel management, patient engagement services, market access consulting, brand communication, advisory services, and health information analytics and technology consulting.
QuintilesIMS was created in 2016 by way of a merger between Quintiles and IMS Health. IMS Health was originally formed in 1954 by Bill Frohlich and David Dubow, while Quintiles was incorporated in 1982 by Dennis Gillings and Gary Koch. The two companies operated separately, establishing themselves individually as leading companies in the pharmaceutical development market.
The two companies completed their merger in October 2016, with the new firm split 51.1% to 48.6% between IMS Health and Quintiles's respective shareholders. The merger made QuintilesIMS the largest pharma services provider in the world, with operations across the America, Asia Pacific, Europe, and Africa and an international workforce of around 50,000 employees.
QuintilesIMS trades a portion of its shares on the New York Stock Exchange under the ticker symbol Q. It has a current market capitalisation of $19.66 billion.
Business model of QuintilesIMS
QuintilesIMS provides a broad range of services to commercial and institutional customers operating in the healthcare and pharmaceuticals sectors. The Company’s customers principally fall into the following categories:
- Pharmaceutical, including small, mid-size domestic and regional pharmaceutical companies, and multinational pharmaceutical and biopharmaceutical enterprises; and
- Other Healthcare, including medical device manufacturers, diagnostic companies, and healthcare providers, including clinics, large hospitals, and health systems.
No single customer accounted for 10% or more of QuintilesIMS’s consolidated service revenues in 2015. The Company has historically derived a significant portion of its service revenues from a relatively limited number of major projects or customers, and, as biopharmaceutical companies continue to outsource large projects to a limited number of providers, this concentration of business could increase.
QuintilesIMS serves an international customer base, spanning its domestic market of the US, as well as markets across Europe, Asia, Japan, Canada, Africa, and Latin America.
QuintilesIMS provides value to its customers in the following ways:
- Its reputation and track record, with the Company established as a reliable provider of biopharmaceutical development services and commercial outsourcing services, serving a large client base, including high-profile, multinational pharmaceutical businesses;
- Its broad selection of services and solutions, with the Company offering a wide range of services to its customers, supporting various aspects of the pharmaceutical commercialisation process, including channel management, patient engagement services, market access consulting, brand communication solutions;
- Its technologies, with the Company utilising proprietary IT platforms and technologies that support the Company’s commercial engagements, clinical trials and real-world studies, as well as its online safety platform;
- Its international reach, with the Company serving customers across Asia Pacific, Europe, Africa, Latin America, as well as its native North America;
- Its industry expertise and experience, with the Company employing specialist personnel across its various operating divisions, as well as an experienced team of industry executives.
QuintilesIMS operates a website at www.quintilesims.com, through which its provides information on its various services, solutions, and operating locations. The Company also operates separate websites for its Quintiles and IMS Health units at www.quintiles.com and www.imshealth.com respectively. The IMS Health website also hosts an online customer portal, which allows customers to manage their IMS Health applications, and access tools and resources.
QuintilesIMS operates its own extensive in-house sales and service force. These personnel operate out of the Company’s international network of offices, spanning the Americas, Asia Pacific, Europe, the Middle East, and Africa, including locations in the US, China, the UK, Brazil, and South Africa. The Company’s sales and service force notably includes its dedicated contract sales team, which comprises more than 6,700 contract medical sales representatives around the world.
QuintilesIMS additionally provides services through its international workforce of specialist employees, including medical doctors and academics, as well as its team of health management services professionals who offer customised clinical and educational solutions to bridge the gap between the clinical and commercial phases of product development.
QuintilesIMS provides a selection of services and tools to its customers on a self-service basis, through its IMS Health customer portal. This principally comprises applications related to the Company’s product development services, through which customers can access a range of functions, resources, and tools without interacting directly with members of the Company’s sales and service personnel.
QuintilesIMS provides customised services to its customers through its contract sales force, which offers flexible solutions – including direct hire, flexible work arrangements, leave of absence and “strike force” arrangements – that are tailored to the individual needs of each client. The Company also works closely with clients through its specialist personnel and health management professionals, who consult directly with clients, working toward the goals of the customer.
QuintilesIMS offers ongoing support to its customers, who are able to contact the company’s various offices and departments directly, receiving personalised assistance over the phone or online. The Company also provides a range of online support resources, including FAQs, and technical information.
QuintilesIMS additionally maintains contact with its customers through its social media accounts – including with Facebook, Google+, Twitter, and LinkedIn – which serve as an extra point of contact and enable the Company to keep customers updated with company developments.
QuintilesIMS operates as a provider of biopharmaceutical development services and commercial outsourcing services, principally in relation to the development and commercialisation of pharmaceutical therapies.
The Company aligns its operations into two reportable business segments: Product Development, which operates as contract research organisation, focused on Phase II-IV clinical trials and associated laboratory and analytical activities; and Integrated Healthcare Services, which comprises commercial pharmaceutical sales and service organisations, providing a range of services, including contract pharmaceutical sales, phase research, market access and consulting, health information analytics and technology consulting, and other healthcare solutions.
QuintilesIMS serves a range of companies operating across the pharmaceutical and healthcare sectors in a number of geographic regions, including the Americas, Asia Pacific, Europe, and Africa.
QuintilesIMS works closely with a broad range of partner organisations and companies across its two operating segments. These partners can be categorised broadly as:
- Supplier and Vendor Partners, including suppliers of various tools, equipment, and services that support the Company’s core operations, as well as various companies to which certain non-technical functions can be outsourced;
- Research and Investigator Partners, including medical research, pharmaceutical, and diagnostic companies that assists the Company in its research activities, as well as physicians, referred to as investigators, at hospitals, clinics or other sites that work on the Company’s clinical trials;
- Joint Venture Partners, comprising various pharmaceutical and diagnostic companies with which the Company works on joint projects through mutually owned entities; and
- Strategic and Alliance Partners, comprising market-leading companies from a range of industries, with which the Company collaborates on various projects and promotions.
QuintilesIMS has agreed a range of partnerships in recent years. This includes a strategic tie-up with Biogen Idec, a partnership with Cardiovascular Research Foundation to join forces on trial services, and a strategic alliance with DaVita Clinical Research.
QuintilesIMS’s key resources are its technologies and intellectual properties, its online platform and applications, its IT and communications infrastructure, its sales and distribution channels, its partnerships, and its personnel.
QuintilesIMS develops and uses a number of proprietary methodologies, analytics, systems, technologies and other intellectual property in the conduct of its business. Searches of records published by the US Patent and Trademark Office identified a number of patent applications in which QuintilesIMS is named as assignee, including applications entitled ‘Methods and systems for predictive clinical planning and design and integrated execution services’, ‘Methods for predicting cardiac toxicity’ and ‘Methods for providing an easily comprehendible risk rating for pharmaceutical products’.
QuintilesIMS also owns and or leases a network of around 120 offices located in approximately 60 countries worldwide.
QuintilesIMS incurs costs in relation to the development of solutions and technologies, development of its online portal, the maintenance of its IT and communications infrastructure, the operation so fits sales and distribution channels, the procurement of professionals services, the management of its partnerships, and the retention of its personnel.
In 2015 QuintilesIMS recorded total cost of revenue and service costs in the amount of $2.73 billion, and selling, general, and administrative costs totalling $920.99 for the year.
QuintilesIMS generates revenue primarily through the provision of various biopharmaceutical development services and commercial outsourcing services to pharmaceutical and medical customers. The Company divides its revenue streams into two categories:
- Service Revenues, primarily including revenue derived from the provision of product development and commercialisation services to our customers; and
- Reimbursed Expenses, comprising payments to physicians (investigators) who oversee clinical trials and travel expenses for the Company’s clinical monitors and sales representatives.
In 2015 QuintilesIMS generated annual revenue of $5.74 billion, up marginally on the $5.46 billion recorded by the Company in 2014. This comprised $4.33 billion in service revenue, and $1.41 billion in reimbursed expenses. The Company’s Product Development segment accounted for around 73.8% of its 2015 service revenues, while its Integrated Healthcare Services segment accounted for approximately 26.2%.
info: Ari Bousbib (“Bousbib”) serves as Chairman of the Board, President, and Chief Executive Officer at QuintilesIMS. He oversees the overall strategic direction of the Company. Bousbib was formerly employed by IMS Health, prior to its merger with Quintiles in 2016. Bousbib is an experienced executive, having held senior roles across multiple business sectors. He was formerly worked at Booz Allen Hamilton, where he was named a partner. He went on to join Otis, where he served as Chief Operating Officer from 2000 to 2002 and as President from 2002 to 2008. Prior to joining IMS Health, Bousbib spent 14 years at United Technologies Corporation, where he served as President of the company’s Commercial Companies, including Otis Elevator Company, Carrier Corporation, UTC Fire and Security, and UTC Power Inc.
info: Michael McDonnell (“McDonnell”) has served as Executive Vice President and Chief Financial Officer of QuintilesIMS since 2015, taking responsibility for the Company’s various financial functions. McDonnell has held financial positions across a number of business sectors. He began his career at PricewaterhouseCoopers in 1986, where he worked for almost 15 years, including a four-year spell as a partner. In 2000 he joined EchoStar Communications Corporation, where he served in several senior roles, including Executive Vice President and Chief Financial Officer, and Senior Vice President and Chief Financial Officer. McDonnell went on to join MCG Capital Corporation, where he served as Executive Vice President, Chief Financial Officer and Treasurer, and Chief Operating Officer over a period of four years. Prior to joining QuintilesIMS, McDonnel served as Executive Vice President and Chief Financial Officer at Intelsat.
info: Kevin Knightly (“Knightly”) has served as President of Information and Technology Solutions at QuintilesIMS since 2016. He is responsible for the growth of the Company’s information assets, delivery of innovative offerings for commercial operations, and development of cutting-edge technology solutions. Knightly also sits on the Company’s Board of Directors. Knightly worked for IMH Health and its predecessor companies for more than 20 years prior to its merger with Quintiles, in which time he held numerous senior financial, operations, marketing and general management posts, including spells as Senior Vice President of Supply Management, Senior Vice President of Pharma Business Management, and President of Europe, Middle East and Africa.
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