PDI agrees to sell Its commercial services business to Publicis Healthcare Communications

2 November 2015
mergers-acquisitions-big

PDI Inc (Nasdaq: PDII) said it has signed a definitive agreement to sell its commercial services business (CSO) to Publicis Healthcare Communications Group, part of Publicis Groupe (Euronext Paris: FR0000130577) for an initial $33 million.

About $7 million of the initial amount will be contingent upon securing certain CSO client commitments, plus an earnout payment based on 2016 CSO revenue.

Nancy Lurker, chief executive of PDI, said: “Our board of directors believes that this transaction is in the best interest of our clients, our employees, and our stockholders. Our agreement with Publicis Healthcare Communications Group is a win-win situation for both companies and maximizes the value of our CSO business for our stockholders.”

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK



Today's issue

Company Spotlight





More Features in Biotechnology