TETERBORO, N.J. and WILMINGTON, Del., July 6, 2000
"This important relationship enables us to offer our comprehensive service
capabilities and a single worldwide database, in support of AstraZenecas global
research efforts," said Harris Koffer, Pharm.D., Vice President, Quest Diagnostics
Clinical Trials. "To support this unique relationship, a joint executive management
team is being formed to oversee and maintain continuous business improvement programs
between both organizations."
"AstraZenecas commitment to industry leadership and excellence is
highlighted by this strategic relationship," said Ronald L. Krall, M.D., Senior Vice
President, Clinical Development and Medical Affairs, AstraZeneca. "We look forward to
a successful relationship with Quest Diagnostics Clinical Trials."
Quest Diagnostics is the nations leading provider of diagnostic testing,
information and services with annualized revenues of more than $3 billion. The testing
performed on human specimens helps doctors diagnose, treat and monitor disease and enables
employers to detect workplace drug abuse. Quest Diagnostics Clinical Trials supports
pharmaceutical and biotechnology companies in clinical trials of new therapeutics
worldwide. Quest Informatics analyzes laboratory and other medical data to help health
care providers improve the care of patients. Additional company information can be found
on the Internet at: www.questdiagnostics.com.
AstraZeneca is a major international healthcare business engaged in the research,
development, manufacture and marketing of ethical (prescription) pharmaceuticals and the
supply of healthcare services. It is one of the top five pharmaceutical companies in the
world with healthcare sales of $15 billion and leading positions in sales of
gastrointestinal, oncology, anesthesia including pain management, cardiovascular, central
nervous system (CNS) and respiratory products. In the United States, AstraZeneca is a $7.4
billion healthcare business with approximately 9,500 employees. Additional company
information can be found on the Internet at www.astrazeneca-us.com.
The statements in this press release which are not historical facts or
information may be forward-looking statements. These forward-looking statements involve
risks and uncertainties that could cause the outcome to be materially different. Certain
of these risks and uncertainties are listed in the Quest Diagnostics Incorporated 1999
Form 10-K and subsequent filings.
This press release contains forward-looking statements with respect to AstraZeneca's
business. By their nature, forward-looking statements and forecasts involve risks and
uncertainties. For a discussion of those risks and uncertainties, please see the company's
Annual Report/Form 20-F for 1999.