SOMERSET, N.J., Dec. 2 /PRNewswire-FirstCall/ -- Ventiv Health, Inc. today announced that one of its most significant large clients has preliminarily indicated that Ventiv's sales team will remain in place through 2006, and that a second client has committed to expanding Ventiv's existing team by 100 sales representatives. Separately, Ventiv is reconfirming its recently-increased full year 2005 guidance as well as its 2006 guidance of $650-$670 million in revenues and $1.35-$1.40 in net earnings per share.
Eran Broshy, Chief Executive Officer, commented, "We are extremely pleased that one of our most significant clients has preliminarily indicated that our existing sales team will remain in place through the full year 2006. In addition one of our mid-tier clients has committed to expanding our current team by approximately 100 sales representatives pending product approval in the first half of 2006. We also are excited to have been awarded business with four new small and mid-tier clients, where the opportunity exists to utilize our full range of services. Given our positive business outlook, we are quite surprised that our stock price has weakened recently. We are very comfortable with our expected fourth quarter results, and are reaffirming our 2006 guidance of $650-$670 million in revenues and $1.35-$1.40 in net earnings per share."
Mr. Broshy continued, "Our positive outlook underscores our strong market position and continued effective execution across all our businesses. The broadening of our business and earnings mix -- which we have proactively and strategically undertaken over the past several years -- has now positioned Ventiv as the leading broadly-diversified pharmaceutical services company, providing a full range of commercial, communications and clinical services to over 150 clients including 18 of the top 20 pharmaceutical companies."
About Ventiv Health
Ventiv Health, Inc. is the leading provider of commercialization services to the global pharmaceutical and lifesciences industries. Ventiv delivers its customized clinical, sales, marketing and communications services through its three core business segments: Commercial Services, Clinical Services and Communications Services. Ventiv's 4,600 employees support over 150 client organizations, including 18 of the Top 20 global pharmaceutical companies as well as emerging and specialty biotech leaders. For more information on Ventiv Health, Inc. visit www.ventiv.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause Ventiv Health's performance to differ materially. Such risks include, without limitation: changes in trends in the pharmaceutical industry or in pharmaceutical outsourcing; our ability to compete successfully with other services in the market; our ability to maintain large client contracts or to enter into new contracts; uncertainties related to future incentive payments and revenue share agreements; and, our ability to operate successfully in new lines of business. Readers of this press release are referred to documents filed from time to time by Ventiv Health, Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
Ventiv Health, Inc.CONTACT: Investors/Corporate - John Emery, CFO of Ventiv Health, Inc.,+1-732-537-4804, investor@ventiv.com; Media - Kellie Walsh of LazarPartners Ltd., +1-646-871-8480, kwalsh@lazarpartners.com
Web site: http://www.ventiv.com/
