Revenue, Profit Jump for Life Science Data Giant IQVIA

Pharma information giant IQVIA has reported revenue up 7.2% at constant currency for the quarter ended March 31st, to $2.684 billion, and adjusted EBITDA of $587m, up from $547m a year previously.

IQVIA was formed through the merger of IMS Health and Quintiles, which created one of the world's largest portfolios of healthcare information, therapeutic, domain, regulatory and commercial analytic expertise, as well as proprietary technology applications. The company has more than 58,000 employees and operations in more than 100 countries.

The latest revenue rise was led by the Technology & Analytics Solutions (TAS) division (up 12.9% on the same basis to $1,075m), while the Research & Development Solutions (R&DS) unit saw a rise of 5.3%, to $1,416m, and Contract Sales & Medical Solutions (CSMS) a fall of 7.0% to $193m.
First-quarter 2019.

Chairman and CEO Ari Bousbib (pictured) comments: 'We began the year with another quarter of strong financial and operational performance. We are particularly pleased with the sustained acceleration of our top-line growth and the continued market penetration of our analytics and technology-enabled offerings across our TAS and R&DS businesses. The team is executing superbly for our clients and we are starting to realize the benefits of our continued investments in innovation'.

Full-year 2019 guidance remains unchanged, in the range of $10.900bn to $11.125bn revenue; and adjusted EBITDA of $2.375 to $2.425bn. As of March 31st the company had net debt of $10.351bn.

Web home page: www.iqvia.com .

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