• SKIP TO CONTENT
  • SKIP NAVIGATION
  • Patient Resources
    • Clinical Trial Listings
    • What are Clinical Trials?
    • Become a Clinical Trial Volunteer
    • Useful Resources
    • FDA Approved Drugs
  • Professional Resources
    • Research Center Profiles
    • Market Research
    • Benchmark Reports
    • FDA Approved Drugs
    • Training Guides
    • Books
    • eLearning
    • Events
    • Newsletters
    • White Papers
    • SOPs
  • White Papers
  • Clinical Trial Listings
  • Advertise
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » What's In A Name? A Fresh Start, Maybe

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

February 3, 2006
CenterWatch Staff

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.

A name, of course, doesn’t resolve the litany of problems facing the company, including questions about its clinical trial patient recruitment practices; the departure of its former CEO, president and legal affairs head; a U.S. Senate Committee investigation; a revenue restatement; and an informal SEC inquiry into the pay packages for departed executives.

The company’s shares are bouncing around in the teens, a far cry from their 52-week high of $45.73 in September.

But a name change, in combination with the other steps SFBC is taking, could put some distance between the company and its ongoing turmoil. Moving the company out of Miami to Princeton, where PharmaNet was headquartered, was one positive step to this end. Promoting PharmaNet veterans into executive positions and setting up regulatory task forces were others.

We’re aware that a name change won’t make the company’s problems disappear. Aside from these, the company has to manage the normal growing pains associated with rapid expansion through acquisitions.

We also know that its customers won’t give it much time to get things right. Larger competitors such as Quintiles, Covance, PPD and Parexel are available to grab the business.

    Upcoming Events

    • 14Apr

      MAGI 2024: The Clinical Research Conference

    Featured Products

    • Surviving an FDA GCP Inspection

      Surviving an FDA GCP Inspection: Resources for Investigators, Sponsors, CROs and IRBs

    • Best Practices for Clinical Trial Site Management

      Best Practices for Clinical Trial Site Management

    Featured Stories

    • Jonathan Seltzer

      Thought Leadership: Remote Patient Monitoring Gives New View of Safety in Cardiac Clinical Trials

    • Quality_Compass-360x240.png

      Ask the Experts: Applying Quality by Design to Protocols

    • Obesity Treatment Patient

      Clinical Trials Need Greater Representation of Obese Patients, Experts Say

    • Modernize-360x240.png

      FDA IT Modernization Plan Prioritizes Data-Sharing, AI, Collaboration and More

    Standard Operating Procedures for Risk-Based Monitoring of Clinical Trials

    The information you need to adapt your monitoring plan to changing times.

    Learn More Here
    • About Us
    • Contact Us
    • Privacy Policy
    • Do Not Sell or Share My Data

    Footer Logo

    300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

    Phone 703.538.7600 – Toll free 888.838.5578

    Copyright © 2023. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing