PDI Announces Business Win With Expected Annual Revenue of $33 Million
PARSIPPANY, N.J., Jan. 7 /PRNewswire-FirstCall/ -- PDI, Inc. (Nasdaq: PDII), a leading provider of sales and marketing support to U.S. health care companies, today announced the extension of its contract sales engagement with a Top 5 pharmaceutical company. The original contract began in May 2007 and this is the second consecutive year that the engagement has been extended. Expected revenue over the next 12 months will be approximately $33 million.
"We are delighted to begin 2010 with the extension of a valued business relationship that began nearly three years ago," said Nancy Lurker, Chief Executive Officer of PDI, Inc. "Even though 2009 was a challenging year in the pharmaceutical industry, we continue to be encouraged by the significant and positive change PDI is experiencing and the progress we are making in securing new business and renewing existing contracts such as this one."
PDI provides commercialization services for established and emerging biopharmaceutical companies. The company is dedicated to maximizing the return on investment for its clients by providing strategic flexibility, sales and marketing expertise.
For more information, please visit the company's website at www.pdi-inc.com.
This press release contains forward-looking statements regarding future events and financial performance. These statements are based on current expectations and assumptions involving judgments about, among other things, 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. These statements also involve known and unknown risks, uncertainties and other factors that may cause PDI's actual results to be materially different from those expressed or implied by any forward-looking statement. For example, with respect to statements regarding projections of future revenues, actual results may differ materially from those set forth in this release based on the loss, early termination or significant reduction of any of our existing service contracts or the failure to meet performance goals in PDI's incentive-based arrangements with customers. Additionally, all forward-looking statements are subject to the risk factors detailed from time to time in PDI's periodic filings with the Securities and Exchange Commission, including without limitation, PDI's Annual Report on Form 10-K for the year ended December 31, 2008, and PDI's subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, PDI undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
SOURCE PDI, Inc.