PDI to Close TVG Research Unit

US pharma marketing and sales group PDI is to cease conducting market research through its TVG Marketing Research & Consulting arm, citing a decrease in the demand for marketing research.

However, the firm is in talks with a 'limited group' of TVG managers to offer them the opportunity to buy the TVG brand and run the market research firm independently.

The group's CEO Nancy Lurker said that changes in the healthcare industry - including various mergers and acquisitions as well as healthcare reform - have resulted in a 'significant' decrease in demand for market research.

'While the decision to exit our TVG unit was a very difficult one, it was necessary to help ensure the long-term health of our business and is consistent with our stated strategy to focus chiefly on the growth of our core, outsourced promotional services business,' she added.

PDI's costs to leave the MR industry will be around $2.3m - including severance pay, lease termination and other related charges.

Web site: www.pdi-inc.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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