PharmaNet

CenterWatch Commentary: PharmaNet Down in Rough Seas

Tuesday, September 16, 2008 11:00 AM

The contract research business has always been a bit choppy. Projects from drug sponsors often get delayed or canceled. It’s the nature of contract work. But quarterly results should not be as erratic as what PharmaNet Development Group announced late last week.

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PharmaNet Stock Plunges 60% After Cancellations

Friday, September 12, 2008 11:04 AM

PharmaNet Development Group’s shares plunged more than 60% to less than $10 a share in early morning trading after the contract research organization (CRO) cut its financial guidance for the year. The company expects a loss—instead of the previously predicted profit—following cancellations and postponements of projects by biotech and pharmaceutical companies.

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PharmaNet Turns It Around Again

Friday, August 1, 2008 09:40 AM

A few days before PharmaNet Development Group’s surprise positive second quarter earnings report on July 30, we were wondering if the contract research organization (CRO) could pull off another comeback—one much smaller than its turnaround of the former SFBC.

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PharmaNet Comes Back Again, Shares up 30%

Thursday, July 31, 2008 10:58 AM

PharmaNet Development Group is making its latest comeback—in a big way. The contract research organization (CRO) blew away analysts’ expectations when it reported second quarter earnings after the closing bell Wednesday. Its shares were up more than 30% to $23.62 in late morning trading Thursday.

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The Name Game

Monday, August 21, 2006 09:52 AM

It’s a call I made in January. So what took SFBC so long to decide to change its name to PharmaNet? While the move took a little longer than expected, it is another sign that new CEO Jeffrey McMullen and his PharmaNet-ters still have a solid chance to turnaround the troubled former SFBC.

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Top Stories for the Week of August 14th 2006

Tuesday, August 15, 2006 10:13 AM

Top News

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SFBC Now PharmaNet Development Group

Tuesday, August 15, 2006 10:11 AM

Now just emerging from a year of legal and financial blows and bad publicity, SFBC has decided to change its name to PharmaNet Development Group, pending shareholder approval later this month. The company’s late stage division will continue to be called PharmaNet, and its early stage divisions will operate under the names Anapharm and Taylor Technology.

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SFBC Exits Florida

Thursday, May 18, 2006 02:34 PM

It should comes as no surprise that SFBC is getting out of Florida after its Miami phase I unit performed so poorly last quarter.  Current SFBC officials—the former heads of PharmaNet—needed to stop the bleeding before the whole company was in jeopardy. Its later phase business is still holding its own.

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What's In A Name? A Fresh Start, Maybe

Friday, February 3, 2006 02:09 PM

A new CEO and a change of scenery are good first steps to righting the ship at SFBC. A new name could also do the embattled contract research organization some good. Something like, say, PharmaNet? Two weeks ago Jeffrey McMullen assumed the role of CEO. He joined SFBC as part of the company’s December 2004 acquisition of CRO PharmaNet for $245 million in cash. By our measures, the PharmaNet name has a lot of positive brand equity. It has been a top performer in the Thomson CenterWatch Survey of Investigative Sites in the US in 2005 and 2003. It was also top-rated in Europe in 2004. That’s high praise from our survey respondents – principal investigators and study coordinators – who are on the front lines of clinical research.

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