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PharmData, Inc. Acquired by Premier Research Group plc
 
Tuesday July 19

LONDON, UK - July 19, 2005 - Premier Research Group plc (AIM: PRG) ("Premier Research”, “Company" or “Group”), the international pharmaceutical services group today announces the acquisition of PharmData, Inc. (“PharmData”) for a maximum consideration of up to approximately £12.5 million (US$22.0 million) in cash and shares (“the Acquisition”).

This follows the Group’s acquisition of EPA Euro Pharma of Germany which was announced in early June 2005 and continues the Company’s stated strategy of building an international business both organically and through strategically placed acquisitions.

The Company also today gives a pre-close trading update for the half year ending 31 July 2005.

Information on PharmData

PharmData is a privately held contract research organisation (CRO) that specialises in clinical data management, statistical analysis, medical writing, electronic archiving and project management services for the pharmaceutical, biotechnology, and medical device industries.  The business, which was set up in 1994, is based in Atlanta, USA and employs 40 people.

Reasons for the Acquisition

PharmData currently operates solely within the US market and provides the Company with increased scope and scale of data management services.

Due to the specialist nature of its service offering, PharmData achieves a higher operating margin than Premier Research’s existing data management operations. PharmData’s customer base, which comprises of largely US based pharmaceutical and biotechnology companies, is almost exclusively complementary to that of Premier Research’s and there is considerable scope for cross-selling opportunities, particularly in the Company’s ability to offer clinical services to PharmData’s customers who have, to date, secured this service elsewhere.

Financing the Acquisition

Commenting on the Acquisition, Dr Simon Yaxley, Chief Executive of Premier Research said:

“We are delighted with the acquisition of PharmData which represents an important step in our strategy of building a leading international contract research organisation. The combination of PharmData’s excellent reputation, strong data management, statistical expertise and sophisticated IT and project delivery processes with Premier Research’s existing US and international operations offers a number of complementary synergies to the enlarged Group and further strengthens Premier Research’s position in the international CRO market.”

 


Principals of Fairmount Partners acted as advisors to PharmData, Inc. in this transaction.

 

Contact:

Neal McCarthy

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