Say it with us: IQVIA is the new Quintiles and IMS Health
The brand new IQVIA web site features an aural pronouncer button to avoid any confusion as to how it should sound: “I-Q-via.”
“IQVIA may be grounded in the intelligence and capabilities of I and Q, but it is ‘via’ the path forward that we hope to inspire and ignite real change for healthcare stakeholders,” a spokesperson told Endpoints News.
The ‘I’ and the ‘Q’ harken back to a time when a handful of analytics shops owned all the post-approval data while CROs simply stayed in their lane and ran clinical trials, a bygone era dominated by the now fully subsumed IMS Health and Quintiles. The not-long-for-this-world QuintilesIMS brand operated for over a year, making way for a fresh new name the company hopes broadens biopharma’s perceptions of it. Since combining, the company has “worked to integrate [their] capabilities in advanced analytics, leading technologies and therapeutic expertise into powerful, differentiated offerings.”
The decision to merge two otherwise disparate operations signaled a new direction for the clinical outsourcing industry, where consolidation and expansion into new data-driven markets is the name of the game now. And rebranding season isn’t quite over yet in the CRO world. The recently merged INC Research and inVentiv Health, #5 on our list of the top 10 CROs, are expected to unveil their new combined brand in 2018.
IQVIA will trade on the New York Stock Exchange under the new name and new ticker symbol $IQC starting on November 15, 2017. Until then, the company will continue to be listed under QuintilesIMS and symbol $Q.
“Today is a defining moment for our organization as we introduce a new name that aligns with our vision to help stakeholders drive healthcare forward,” said CEO Ari Bousbib in a statement. “Our vision is to outpace the inevitable progress of change across the life sciences and accelerate our ability to empower healthcare decision makers to meet the future head on.”
The company’s market cap has risen from $20.74 billion in August to $23.03 billion.