SADDLE RIVER, N.J., May 11 /PRNewswire-FirstCall/ -- PDI, Inc. , a contract sales and marketing services provider to the biopharmaceutical industry, today announced that it has signed an agreement with a major pharmaceutical company for a new contract sales engagement. The contract, effective immediately, is expected to produce approximately $23 to $25 million in revenue for 2006 and approximately $35 to $40 million in revenue over its one-year term.
Mr. Steven K. Budd, PDI’s President commented, “We are very pleased to have been selected for this important program and are excited about the opportunity to work with this new customer. We believe that PDI’s track record of building and managing high quality, results oriented sales teams was particularly important in the selection of PDI. Our ‘Performance Driven’ philosophy is a differentiating factor that can help our clients maximize their return on investment. Our recent new business wins demonstrate PDI’s leadership position within the contract sales industry and the success of our strengthened business development and marketing efforts. “
About PDI
PDI, Inc. is a diversified sales and marketing services provider to the biopharmaceutical industry offering a comprehensive set of outsourced solutions for established and emerging pharmaceutical companies. PDI is dedicated to maximizing the return on investment for its clients by providing strategic flexibility; sales, marketing, and commercialization expertise; and a philosophy of performance.
Headquartered in Saddle River, NJ, PDI’s sales and marketing services include our Performance Sales Teams(TM), which are dedicated teams for specific clients, and Select Access(TM), our targeted sales solution that leverages an existing infrastructure. PDI also offers marketing research and consulting services through TVG in Dresher, PA, and medical communications services through Pharmakon in Schaumburg, IL. In addition, PDI is a high quality provider of ACCME-accredited continuing medical education through Vital Issues in Medicine (VIM (R)) in Dresher, PA. The company’s experience extends across multiple therapeutic categories and includes office and hospital-based initiatives.
PDI’s commitment is to deliver innovative solutions, unparalleled execution and superior results for its clients. Through strategic partnership and client-driven innovation, PDI maintains some of the longest standing sales and marketing relationships in the industry. Recognized as an industry pioneer, PDI remains committed to continuous innovation and to maintaining the industry’s highest quality employees.
For more information, visit the Company’s website at http://www.pdi-inc.com .
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and financial performance. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to 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. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, the termination of or material reduction in the size of any of our customer contracts, the loss by our clients of intellectual property rights, our ability or inability to secure new business to offset the recent loss of the AstraZeneca program and the terms of any replacement business we secure, changes in our operating expenses, FDA, legal or accounting developments, competitive pressures, failure to meet performance benchmarks in significant contracts, changes in customer and market requirements and standards, the impact of any stock repurchase programs, the adequacy of the reserves PDI has taken, the financial viability of certain companies whose debt and equity securities we hold, the outcome of certain litigations, PDI’s ability to implement its current business plans, and the risk factors detailed from time to time in PDI’s periodic filings with the Securities and Exchange Commission, including without limitation, PDI’s Amended Annual Report on Form 10-K/A for the year ended December 31, 2005, and PDI’s periodic reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission since January 1, 2006. The forward looking-statements in this press release are based upon management’s reasonable belief as of the date hereof. PDI undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
PDI, Inc.
CONTACT: Stephen P. Cotugno, Executive Vice President-CorporateDevelopment, PDI, Inc., +1-201-574-8617
Web site: http://www.pdi-inc.com/
