Quintiles announced today that it has completed its acquisition of Advion BioServices, a 180-employee lab business based in Ithaca, N.Y.
Durham-based Quintiles, the world's largest pharmaceutical services company, paid an undisclosed amount of cash for Advion. The company will now be known as Advion Bioanalytical Labs.
Advion is one of several recent acquisitions announced by Quintiles, which at the outset of this year decided it wanted to add new services and boost its growth through acquisitions.
The company bought Massachusetts-based Outcome Sciences, 250-employee company that specializes in "observational research" - observing the decision-making process doctors use when prescribing a medication and how effective it proves to be for patients.
Quintiles also is acquiring VCG & Associates of Holliston, Mass., and its subsidiary, VCG BIO of Cave Creek, Ariz. The businesses have a total of 25 employees, and develop strategies for launching and selling prescription drugs.
Advion specializes in pharmacokinetics, which analyzes what the body does to a drug, such as how quickly it is excreted; and pharmacodynamics, the study of a drug's effects on the body.