PDI, Inc. Announces Client FDA Product Approval Related to Previously Disclosed Contract
PARSIPPANY, N.J., July 18, 2012 – PDI, Inc. (Nasdaq: PDII) today announced that the client related to a previously disclosed contract has received FDA approval to market its product. PDI had entered into an agreement with that client to provide an array of promotional services for this product, including but not limited to a dedicated sales team, as well as teledetailing and digital communications through PDI's Group DCA division.
On May 24, 2012, PDI announced that it signed a contract, which was subject to FDA approval of the client's product, with this client. The contract is expected to generate total revenue to PDI of approximately $57 million over the life of the two-year agreement, with $10-$11 million to be recorded over the second half of 2012.
"We look forward to assisting our client in the launch of its newly FDA-approved product," said Nancy Lurker, Chief Executive Officer of PDI, Inc. "Our wide range of educational and promotional support will help the client effectively reach patients and physicians with this important new medicine."
About PDI, Inc.
PDI is a leading health care commercialization company providing superior insight-driven, integrated multi-channel message delivery to established and emerging health care companies. The company is dedicated to enhancing engagement with health care practitioners and optimizing commercial investments for its clients by providing strategic flexibility, full product commercialization services, innovative multi-channel promotional solutions, and sales and marketing expertise. For more information, please visit the company's website at http://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, growth and profitability, 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, the failure to meet performance goals in PDI's incentive-based arrangements with customers or the inability to secure additional business. 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
PDI, Inc. Announces Client FDA Product Approval Related to Previously Disclosed Contract 10-K for the year ended December 31, 2011, 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.
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