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Quintiles Joins $112 Million Asian Product Purchase Partnership

June 10, 2005

Quintiles Transnational said it is joining two other organizations to establish a $112 million fund to buy pharmaceutical products for the Asia Pacific market. Interpharma Asia Pacific, parent of drug distributor Zuellig Pharma, and Temasek Holdings, the Singapore government's investment arm, will join Durham-based Quintiles in equally contributing to and owning one-third of the fund. The fund's purpose "to acquire existing and new pharmaceutical products from research-based drug companies targeted at the needs of the Asia Pacific region," Quintiles said in a statement.

()a href="http://www.bizjournals.com/triangle/stories/2005/06/06/daily26.html" target="_blank">Triangle Business Journal