Q2 Revenues Fall at PDI's TVG

US pharma marketing and sales group PDI has reported that second quarter revenue has more than doubled to $33.5m. However, revenue in its TVG market research unit, slated for closure or sell-off, declined because of a decrease in the number of projects.

Last month, PDI announced plans to cease conducting market research through TVG Marketing Research & Consulting, citing a decrease in demand for MR. At the time, the firm said it was 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.

In Q2, revenues for PDI's Marketing Services division - which includes TVG and marketing agency Pharmakon - dropped 18% to $3.2m from $3.9m the prior year period. Gross profit declined from $1.8m to $1.4m.

Commenting on the second quarter figures, CEO Nancy Lurker said that the firm's decision to 'exit the market research business', fits with its strategy of focusing on promotional outsourced services to healthcare providers.

Overall, the PDI group reported a 106% increase in revenues and an 82% reduction in operating loss.

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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