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Press Releases
Two Divisions of inVentiv Health Receive 2006 Lilly Global Supplier Award
inVentiv Clinical and GSW Worldwide Awarded Industry Recognition
SOMERSET, N.J., Aug. 3 -- inVentiv Health, Inc. (Nasdaq: VTIV - News) today announced that two of its divisions received the 2006 Lilly Global Supplier Award, an annual recognition of select Eli Lilly and Company's suppliers. An inVentiv Clinical Solutions dedicated team, which developed out of the MedFocus staffing program, was honored in the Procurement category; and GSW Worldwide, one of the largest healthcare advertising agencies in the world, was honored in the Sales and Marketing category.
The award, which is granted annually to a select group of Lilly's worldwide vendors, recognizes the contributions those suppliers make in helping Lilly better serve patients that rely on Lilly products. Winners of the award were nominated by Lilly employees and chosen based on their ability to give Lilly a competitive edge by supporting its corporate objectives.
Eran Broshy, Chairman and CEO of inVentiv Health, Inc. commented, "Being awarded the 2006 Supplier Award by Lilly for multiple divisions under the inVentiv Health umbrella is a great distinction for the entire organization. This recognition not only reinforces the strong relationship our organization has built with Lilly, it also reflects the quality of the solutions that inVentiv Clinical and GSW Worldwide have consistently provided to their client teams."
inVentiv Clinical provides its clients with a variety of flexible options to meet their clinical trial objectives including traditional clinical staffing and recruitment, creating dedicated work teams, and outsourcing one or several functions associated with the clinical trial process. Its MedFocus division specializes in recruiting and retaining top clinical research and scientific talent for the nation's leading pharmaceutical and biotech companies. This is the first time inVentiv Clinical has received the Lilly Global Supplier Award.
GSW Worldwide is one of the largest healthcare advertising agencies in the world with offices in 13 major global markets. Named 2006 "Most Creative Agency" by Med Ad News, GSW Worldwide provides liberating ideas(SM) that generate new energy around products, build stronger connections with customers and create leadership brands. GSW Worldwide was previously recognized with the Lilly Global Supplier Award in 2003.
All of the companies awarded the Lilly Global Supplier Award were honored at a banquet sponsored by Eli Lilly on August 2 in Indianapolis.
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 inVentiv Health's performance to differ materially. Such risks include, without limitation: our ability to sufficiently increase our revenues and maintain or decrease expenses and cash capital expenditures to permit us to fund our operations; our ability to continue to comply with the covenants and terms of our credit facility and to access sufficient capital to fund our operations; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses into our operations; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our clients base; our ability to comply with all applicable laws as well as our ability to successfully implement from a timing and cost perspective any changes in applicable laws; our ability to recruit, motivate and retain qualified personnel, including sales representatives; the actual impact of the adoption of certain accounting standards; our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing; and our inability to determine the actual time at which the liquidation of the Columbia Strategic Cash Portfolio will be completed or the total losses that we will actually realize from that investment vehicle. . Readers of this press release are referred to documents filed from time to time by inVentiv Health Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
