PARSIPPANY, N.J., March 13, 2013 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII) today announced the signing of a new sales contract which could generate total revenues of up to $17 million over its two-year term. PDI estimates that $5 - $6 million of revenue will be recognized in 2013, beginning in the second quarter. Under the agreement PDI will provide a dedicated team to promote a CNS therapeutic product to neurologists and pain specialists. The agreement also provides an option for contract termination after one year.
"Outsourcing for new reps continues to grow as ROI metrics become more critical to pharma," said Nancy Lurker, chief executive officer of PDI, Inc. "A major focus of PDI's value proposition is improving ROI on sales expenses. We are confident that we will win additional business from our strong pipeline of potential new sales contracts."
About PDI, Inc.
PDI is a leading health care commercialization company providing superior insight-driven, integrated multi-channel message delivery to established and emerging health care companies. The company is dedicated to enhancing engagement with health care practitioners and optimizing commercial investments for its clients by providing strategic flexibility, full product commercialization services, innovative multi-channel promotional solutions, and sales and marketing expertise. For more information, please visit the company's website at http://www.pdi-inc.com.
This press release contains forward-looking statements regarding future events and financial performance. These statements are based on current expectations and assumptions involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond PDI's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause PDI's actual results to be materially different from those expressed or implied by any forward-looking statement. For example, with respect to statements regarding projections of future revenues, growth and profitability, actual results may differ materially from those set forth in this release based on the loss, early termination or significant reduction of any of our existing service contracts, the failure to meet performance goals in PDI's incentive-based arrangements with customers, the inability to secure additional business or our inability to develop more predictable, higher margin business through in-licensing or other means. Additionally, all forward-looking statements are subject to the risk factors detailed from time to time in PDI's periodic filings with the Securities and Exchange Commission, including without limitation, PDI's subsequently filed Annual Report on Form 10-K for the year ended December 31, 2012 and current reports on Form 8-K. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, PDI undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
SOURCE PDI, Inc.