IQVIA, formerly Quintiles and IMS Health, Inc.,
is an American multinational company serving the combined industries of
health information technology
Health information technology (HIT) is health technology, particularly information technology, applied to health and health care. It supports health information management across computerized systems and the secure exchange of health informatio ...
and
clinical research
Clinical research is a branch of healthcare science that determines the safety and effectiveness ( efficacy) of medications, devices, diagnostic products and treatment regimens intended for human use. These may be used for prevention, treatm ...
. IQVIA is a provider of biopharmaceutical development and commercial outsourcing services, focused primarily on Phase I-IV
clinical trial
Clinical trials are prospective biomedical or behavioral research studies on human participants designed to answer specific questions about biomedical or behavioral interventions, including new treatments (such as novel vaccines, drugs, dietar ...
s and associated laboratory and analytical services, including consulting services. It has a network of more than 88,000 employees in more than 100 countries and a market capitalization of $49 Billion as of August 2021.
[ As of 2017, IQVIA was reported to be one of the world's largest contract research organizations.
]
History
IQVIA is the result of the 2016 merger of Quintiles, a leading global contract research organization, and IMS Health, a leading healthcare data and analytics provider The name of the modern company honors the legacy organizations. IQVIA: I (IMS Health), Q (Quintiles), and VIA (by way of).
IMS Health
IMS Health was best known for its collection of healthcare information spanning sales, de-identified prescription data, medical claims, electronic medical records
An electronic health record (EHR) is the systematized collection of patient and population electronically stored health information in a digital format. These records can be shared across different health care settings. Records are shared throu ...
and social media
Social media are interactive media technologies that facilitate the creation and sharing of information, ideas, interests, and other forms of expression through virtual communities and networks. While challenges to the definition of ''social medi ...
. IMS Health's products and services were used by companies to develop commercialization plans and portfolio strategies, to select patient and physician populations for specific therapies, and to measure the effectiveness of pharmaceutical marketing
Many countries have measures in place to limit advertising by pharmaceutical companies.
Pharmaceutical company spending on marketing generally exceeds that of its research budget. In Canada, $1.7 billion was spent in 2004 to market drugs to physi ...
and sales resources. The firm used its data to produce syndicated reports such as market forecasts and market intelligence.
The original name of the company was Intercontinental Marketing Statistics, hence the IMS name. IMS Health's corporate headquarters were located in Danbury
Danbury is a city in Fairfield County, Connecticut, United States, located approximately northeast of New York City. Danbury's population as of 2022 was 87,642. It is the seventh largest city in Connecticut.
Danbury is nicknamed the "Hat City ...
, Connecticut
Connecticut () is the southernmost state in the New England region of the Northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, New York to the west, and Long Island Sound to the south. Its cap ...
, United States. Ari Bousbib was the chairman and CEO of IMS Health before the merger.
* In 1998, the parent company, Cognizant Corporation, split into two companies: IMS Health and Nielsen Media Research. After this restructuring, Cognizant Technology Solutions became a public subsidiary of IMS Health
* In 2002, IMS Health acquired Cambridge Pharma Consultancy, a privately held international firm that provides strategic advice to pharmaceutical management.
* In 2003, acquired Marketing Initiatives, a specialist in healthcare facility profile data, and Data Niche Associates, a provider of rebate validation services for Medicaid
Medicaid in the United States is a federal and state program that helps with healthcare costs for some people with limited income and resources. Medicaid also offers benefits not normally covered by Medicare, including nursing home care and pers ...
and managed care. In 2003, IMS Health sold its entire 56% stake in Cognizant
Cognizant is an American multinational information technology services and consulting company. It is headquartered in Teaneck, New Jersey, United States. Cognizant is part of the NASDAQ-100 and trades under CTSH. It was founded as an in-hous ...
and both companies are separated into two independent entities as IMS Health and Cognizant
Cognizant is an American multinational information technology services and consulting company. It is headquartered in Teaneck, New Jersey, United States. Cognizant is part of the NASDAQ-100 and trades under CTSH. It was founded as an in-hous ...
* In 2004, United Research China Shanghai was acquired, providing coverage of China's consumer health market.
* In 2005, acquired PharMetrics, a U.S. provider of patient-centric integrated claims data.
* In 2006, acquired the Life Sciences practice of Strategic Decisions Group, a portfolio strategy consultant to the life sciences industry.
* In 2007, IMS Health acquired IHS and MedInitiatives, providers of healthcare data management analytics and technology services. That same year, ValueMedics Research was acquired, extending IMS Health's health economics
Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare. Health economics is important in determining how to improv ...
and outcomes research capabilities.
* In 2007, ranked in the ''Businessweek'' 50. This list represents "best in class" companies from the ten economic sectors that make up the S&P 500
The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of D ...
.
* In 2008, named to the World's Most Admired Companies list by ''Fortune''. The company received the recognition again in 2010.
* In 2008, acquired RMBC, a provider of national pharmaceutical market intelligence and analytics in Russia.
* In 2008, acquired the Skura professional services group, based out of Mississauga
Mississauga ( ), historically known as Toronto Township, is a city in the Canadian province of Ontario. It is situated on the shores of Lake Ontario in the Regional Municipality of Peel, adjoining the western border of Toronto. With a popul ...
, Ontario
Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...
, Canada and specialized in data integration, consulting, and services in business intelligence platforms to pharmaceutical and healthcare clients in North America and Europe.
* In 2009, named to the Dow Jones Sustainability North America Index in recognition of the company's economic, environmental and social performance among the largest 600 North American companies.
* In February 2010, IMS Health was taken private by TPG Capital
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...
, CPP Investment Board
The Canada Pension Plan Investment Board (CPPIB; french: Office d'investissement du régime de pensions du Canada), operating as CPP Investments (french: Investissements RPC), is a Canadian Crown corporation established by way of the 1997 ''Cana ...
, and Leonard Green & Partners
Leonard Green & Partners ("LGP") is an American private equity investment firm founded in 1989 and based in Los Angeles. The firm specializes in private equity investments. LGP has invested in over 95 companies since its inception, including Petc ...
.
* In 2010, acquired Brogan, Inc., a privately held market research and consulting firm serving the Canadian healthcare market.
* In 2011, expanded its specialty and patient-level data assets in the United States with the acquisition of SDI Health. Also that year, the company acquired Ardentia Ltd in the UK, and Med-Vantage in the United States to build on its payer services in those markets.
* In 2012, acquired PharmARC Analytic Solutions Pvt. Ltd, a Bangalore
Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...
-based analytics company.
* In 2012, acquired DecisionView, a software solutions company that helps life sciences organizations plan and track patient enrollment for clinical trial
Clinical trials are prospective biomedical or behavioral research studies on human participants designed to answer specific questions about biomedical or behavioral interventions, including new treatments (such as novel vaccines, drugs, dietar ...
s and TTC, a benchmarking
Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost.
Benchmarking is used to measure performan ...
solutions and analytics company that helps clients plan for and negotiate the costs of clinical trials. Also in 2012, the company purchased PharmaDeals Ltd.,
* In 2013, acquired several companies to expand its portfolio of SaaS
Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software.
SaaS is con ...
products: Incential Software, a provider of sales performance management technology services; 360 Vantage, which delivers multi-channel CRM software capabilities; Appature, which offers a relationship marketing platform; and Semantelli, a provider of social media analytics for the global healthcare industry.
* In May 2015, IMS increased its software development capability by acquiring Dataline Software Ltd, a bespoke software development company and big data research specialist in the UK.
* In April 2015, IMS Health completed the purchase of Cegedim's Customer Relationship Management (CRM) software and Strategic Data business for €396 million. Cegedim acquired the software and related business when it purchased Dendrite International in 2007.
* In August 2015, IMS Health completed the purchase of Boston Biomedical Consultants, a provider of market data and market research covering the in vitro Diagnostics market
Quintiles
Quintiles was the world's largest provider of biopharmaceutical development and commercial outsourcing services. The company offered clinical data management, clinical trial execution services, pharmaceuticals, drug development, financial partnering, and commercialization expertise to companies in the biotechnology, pharmaceutical and healthcare sectors.
In 1982, Dennis Gillings
Sir Dennis Barry Gillings (born 25 April 1944) is an American-based British billionaire statistician and entrepreneur, the founder and former chairman of Quintiles Transnational, a clinical research company, headquartered in Durham, North Caro ...
founded and incorporated Quintiles Transnational in North Carolina
North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and So ...
. Quintiles Transnational established Quintiles Pacific Inc. and Quintiles Ireland Ltd. in 1990. In 1991 Quintiles GmbH was established in Germany and Quintiles Laboratories Ltd. was established in Atlanta, Georgia. In September 1996, Quintiles purchased Innovex Ltd. of Britain for $747.5 million in stock. Quintiles went public in 1997 and completed a successful secondary stock offering.
* In 1974, Dennis Gillings signs the first contract to provide statistical and data management consulting for pharmaceutical clients.
* In 1982, Quintiles, Inc., is incorporated in North Carolina.
* In 1990, Quintiles Pacific Inc. and Quintiles Ireland Ltd. are established.
* In 1991, Quintiles GmbH is established in Germany; Quintiles Laboratories Ltd. is established in Atlanta, Georgia.
* In 1996, Quintiles buys Innovex Ltd. and BRI International Inc., becoming the world's largest CRO.
* In 1997, Quintiles goes public, completing a successful secondary stock offering.
* In 1998, Quintiles becomes the first company in the industry to break the $1 billion mark, when it reports net revenues of $1.19 billion.
* In 1999, the company joins the S&P 500 Index.
* In 2003, the Board of Directors agrees to merge with Pharma Services Holdings Inc; Quintiles becomes a private company.
* In 2009, Quintiles opens new corporate headquarters in Durham, North Carolina.
* In 2010, Quintiles opens new European headquarters in the UK and establishes operations in East Africa.
* In 2011, Quintiles buys Advion Biosciences, a bioanalytical lab based out of Ithaca, New York.
* In 2013, Quintiles filed for an IPO on 15 February in order to go public again; Quintiles begins trading on the New York Stock Exchange (NYSE) under ticker symbol Q.”
IMS Health and Quintiles become IQVIA
In May 2016, Quintiles agreed to merge with IMS Health in a deal worth $9 billion. IMS Health shareholders received 0.384 shares of Quintiles common stock for each share of IMS Health common stock they held, leaving the split of ownership at 51.4% IMS and 48.6% Quintiles. The merger was completed in October and the resulting company was a $17.6 billion company called QuintilesIMS. In November 2017, the company adopted the new name of IQVIA, and changed its ticker symbol on the NYSE
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...
from Q to IQV.
Controversies
Throughout its history, the legacy IMS Health's business of collecting anonymized pharmaceutical sales data came under scrutiny from both the media and the legal system.
''IMS Health v. Ayotte'' was a free speech case involving IMS Health.
'' Sorrell v. IMS Health Inc. ''was a case about physician-data privacy
Information privacy is the relationship between the collection and dissemination of data, technology, the public expectation of privacy, contextual information norms, and the legal and political issues surrounding them. It is also known as data pr ...
, which went to the U.S. Supreme Court. The High Court ruled in favor of the company.
IQVIA was contracted by the UK government's Office of National Statistics
An office is a space where an organization's employees perform administrative work in order to support and realize objects and goals of the organization. The word "office" may also denote a position within an organization with specific du ...
to provide data on the prevalence of COVID-19
Coronavirus disease 2019 (COVID-19) is a contagious disease caused by a virus, the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The first known case was COVID-19 pandemic in Hubei, identified in Wuhan, China, in December ...
infection in the population. Some users of the survey reported problems contacting IQVIA and arranging for testing. The problems with how the survey results were collected were criticised for potentially leading to biased data by ''New Scientist''.
References
External links
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{{Authority control
Companies listed on the New York Stock Exchange
Companies based in Durham, North Carolina
Contract research organizations
Consulting firms established in 1982
Life sciences industry
1982 establishments in North Carolina
2013 initial public offerings
1997 initial public offerings
International management consulting firms