TETERBORO, N.J., Dec. 19 /PRNewswire-FirstCall/ --Quest Diagnostics Incorporated (NYSE: DGX), the nation's leading provider of
diagnostic laboratory testing, information and services, announced that it has
signed a long-term agreement with GlaxoSmithKline plc (NYSE: GSK). Under the
agreement, Quest Diagnostics will be the exclusive provider of central
laboratory testing services to support GlaxoSmithKline's global clinical
trials testing requirements in North America and Europe and, on a selected
basis, will provide support for other early stage R&D activity.
The new agreement covers support for studies conducted by all of
GlaxoSmithKline on the effects of pharmacological compounds on humans, as well
as other selected research and development needs through December 31, 2009.
Additional terms of the agreement were not disclosed. GlaxoSmithKline plc was
established in December, 2000, as a result of the merger of Glaxo Wellcome and
SmithKline Beecham. Previously, Quest Diagnostics had established a 10-year
exclusive agreement through August 16, 2009 to support clinical trials in
North America and Europe for SmithKline Beecham plc.
"This important relationship enables us to leverage all of Quest
Diagnostics' laboratory testing and R&D capabilities to support and enhance
the full breadth of GlaxoSmithKline's drug discovery and development efforts,"
said Harris Koffer, Pharm.D., Vice President, Pharmaceutical Services, for
Quest Diagnostics.
GlaxoSmithKline holds approximately 23% of Quest Diagnostics' common stock
and is represented on its board of directors.
Quest Diagnostics Incorporated is the nation's leading provider of
diagnostic testing, information and services, providing insights that enable
physicians, hospitals, managed care organizations and other healthcare
professionals to make decisions to improve health. The company offers the
broadest access to diagnostic laboratory services through its national network
of laboratories and patient service centers. Quest Diagnostics is the leading
provider of esoteric testing, including gene-based medical testing, and
empowers healthcare organizations and clinicians with state-of-the-art
connectivity solutions that improve practice management. Additional company
information can be found on the Internet at: http://www.questdiagnostics.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 2001 Form 10-K and subsequent filings.
SOURCE Quest Diagnostics Incorporated
/CONTACT: Media - Gary Samuels, +1-201-393-5700, or Investor - Laure
Park, +1-201-393-5030, both for Quest Diagnostics Incorporated/