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Fly News Breaks for December 1, 2016
Q
Dec 1, 2016 | 05:59 EDT
Raymond James analyst Michael Baker downgraded QuintilesIMS to Market Perform from Strong Buy citing product development challenges and integration risks. The analyst said QuintilesIMS Product Development as-contracted book-to-bill was "underwhelming" at .95x for Q3 and soft new business awards, the loss of Takeda to PRA Health Sciences, and recent cancellations will impact results over the next few quarters. Further, the combination of the central labs and the CRO will likely take longer than expected, the analyst wrote.
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