CINCINNATI, Aug. 22 /PRNewswire-FirstCall/ -- Kendle , a leading, global full-service clinical research organization (CRO) founded in 1981, today celebrated its 10th anniversary as a public company by ringing the opening bell at the NASDAQ Stock Market. Kendle also marked the anniversary with an Investor Day at the NASDAQ Times Square MarketSite to share with analysts and shareholders the company's perspective on the latest industry trends and growth plans for the future.
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"We are very proud of Kendle's successes since becoming a public company 10 years ago," noted Candace Kendle, PharmD, Chairman and Chief Executive Officer. "Although we have been in the clinical development industry for more than a quarter of a century, the past 10 years in particular have seen tremendous growth in our capability and capacity to deliver the global clinical development and therapeutic expertise our biopharmaceutical customers want from their CRO partners. As we look back over this important period in our history, our success could not have been achieved without the continued contributions of our more than 3,000 associates worldwide who are committed to making life-saving and life-enhancing drugs a reality for patients around the world. We thank them for their contributions and for the role they will play in our future success.
"Kendle is strongly positioned in the growing outsourced Phase I-IV drug research and development market. With the total outsourcing market opportunity estimated to reach between $17.8 and $19.6 billion globally in 2007 and between $25.9 and $29.6 billion by 2010, our future has never been more promising. As our customers continue to embrace outsourcing as a strategic approach to decrease costs and gain efficiencies in their drug development efforts we anticipate they will turn increasingly to CROs like Kendle that provide global patient access, medical and therapeutic expertise and experienced clinical development teams to deliver their global clinical trials.
"In this era of great opportunity Kendle continues to grow above the market rate, demonstrating our customers' increasing recognition of us as a proven global drug development partner able to connect experienced resources worldwide across multiple therapeutic areas and geographies to solve their clinical development challenges. Our growing global footprint and strength in emerging regions such as Central and Eastern Europe and Latin America, deeply valued by our customers, is demonstrated by the fact that Kendle is now one of only two global CROs to have at least 50 percent of its revenue outside the United States." Dr. Kendle concluded, "As we look to the future we believe that advances in science will result in even greater opportunities for globally connected and experienced CROs with expertise in multiple therapeutic areas, regions and eClinical technologies. We look forward to capitalizing on these exciting opportunities and to the increasing role Kendle will play in making life-saving drugs a reality for patients around the globe."
10 Years of Growth -- Kendle today is among the world's leading CROs and is the fourth- largest provider of Phase II-IV clinical development services worldwide. -- Kendle has grown from 500 associates in eight locations in August 1997 to more than 3,000 associates today in 48 offices across 26 countries on six continents. -- Kendle is proud to have worked with 46 of the top 50 global biopharmaceutical companies to speed their drugs to market. -- Kendle is one of only two global CROs to have at least 50 percent of its revenues outside of the United States, according to industry analyst Jefferies & Company, Inc. -- Kendle's net service revenues have increased from $44 million for Fiscal Year 1997 when the company first started trading on NASDAQ to $283.5 million at the end of 2006. -- Kendle increased its size by 50 percent from 2006 to 2007 through the acquisition of the Phase II-IV business of Charles River Clinical Services, Inc., adding attractive therapeutic expertise, diversifying its customer base and expanding its capacity to deliver global trials. -- Kendle's customer-focused approach to delivery of Phase I-IV clinical development services has resulted in sales growth above the industry average for three consecutive years, with sales for 2006 at triple the reported average sector growth rate. -- Proprietary company quantitative research conducted in 2006 showed Kendle's reputation as a first-choice partner for Phase III studies grew significantly with the company perceived as a top three global CRO in this area, one of the areas of greatest market opportunity in the CRO industry. -- Kendle has been recognized as the "Top CRO to Work With" in the Thomson CenterWatch 2007 Survey of U.S. Investigative Sites and as the "Best Contract Research Organization" in November 2006 by an independent panel for Scrip World Pharmaceutical News. -- As one of the early CROs Kendle is actively shaping the future of our industry as one of the five founding and active members of the Association of Clinical Research Organizations (ACRO) established in 2002. About Kendle
Kendle International Inc. is among the world's leading global clinical research organizations and is the fourth-largest provider of Phase II-IV clinical development services worldwide. We deliver innovative and robust clinical development solutions -- from first-in-human studies through market launch and surveillance -- to help the world's biopharmaceutical companies maximize product life cycles and grow market share.
Our global clinical development business is focused on five regions -- North America, Europe, Asia/Pacific, Latin America and Africa -- to meet customer needs. With the expertise of our more than 3,000 associates worldwide, Kendle has conducted clinical trials and provided regulatory and pharmacovigilance services in more than 80 countries. The company was named the "Top CRO to Work With" in the Thomson CenterWatch 2007 Survey of U.S. Investigative Sites.
Additional information and investor kits are available upon request from Kendle, 441 Vine Street, Suite 1200, Cincinnati, OH 45202 or from the Company's Web site at http://www.kendle.com/.
Forward-Looking Statements
This release contains information about management's view of Kendle's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of the Company's latest Form 10-K and other filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.
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