Exhibit
99.1
For
more information contact:
Stephen
P. Cotugno
Executive
Vice President-Corporate Development
PDI,
Inc.
201.574.8617
PDI
Discontinues InServe Business Unit
Saddle
River, NJ— (December 4, 2005) PDI, Inc. (NASDAQ: PDII) a diversified sales and
marketing services provider to the pharmaceutical industry, today announced
that
it is discontinuing its InServe business unit.
InServe
provides clinical after sales support to medical devices and diagnostics
companies. Nurses, medical technologists, and other clinicians, employed by
InServe, train and provide clinical education and after sales support to the
medical staff of hospitals and clinics that recently purchased
equipment.
Through
September 30, 2005, InServe generated revenue of $4.2 million. The Company
expects to be taking a writedown of intangible assets and goodwill attributed
to
InServe in the fourth quarter of 2005.
Today’s
action is part of PDI’s plan to return the company to profitability and to focus
on its core business of servicing the pharmaceutical industry. In addition,
the
Company is reducing expenses, investing in new business development and
marketing resources, and using its balance sheet to drive shareholder value
including making accretive acquisitions.
About
PDI
PDI,
Inc.
(NASDAQ: PDII) is a diversified sales and marketing services provider to the
pharmaceutical industry. PDI’s comprehensive set of next-generation solutions is
designed to increase its clients’ strategic flexibility and enhance their
efficiency and profitability. Headquartered in Saddle River, NJ, PDI also has
offices in Pennsylvania and Illinois.
PDI’s
sales and marketing services include dedicated contract sales, Select Access™,
marketing research and consulting, medical education and communications and
integrated commercial solutions for products from pre-launch through
patent-expiration. The company’s experience extends across multiple therapeutic
categories and includes office and hospital-based initiatives.
PDI’s
commitment is to deliver innovative solutions, unparalleled execution and
superior results for its clients. Through strategic partnership and
client-driven innovation, PDI maintains some of the longest standing sales
and
marketing relationships in the industry. Recognized as an industry pioneer,
PDI
remains committed to continued innovation.
For
more
information, visit the Company’s website at www.pdi-inc.com.
Forward
Looking Statements
This
press release contains forward-looking statements regarding future events and
financial performance. These statements involve a number of risks and
uncertainties and are based on numerous assumptions involving judgments with
respect to 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. Some of the important
factors that could cause actual results to differ materially from those
indicated by the forward-looking statements are general economic conditions,
changes in our operating expenses, adverse patent rulings, FDA, legal or
accounting developments, competitive pressures, discontinued businesses, failure
to meet performance benchmarks in significant contracts, changes in customer
and
market requirements and standards, the impact of any stock repurchase programs,
the adequacy of the reserves the Company has taken, the financial viability
of
certain companies whose debt and equity securities we hold, outcome of certain
litigations, and the Company’s ability to implement its current business plans
and 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 10-K for the year ended December 31, 2004, and PDI’s
periodic reports on Form 10-Q and current reports on Form 8-K filed with the
Securities and Exchange Commission since January 1, 2005. The forward
looking-statements in this press release are based upon management's reasonable
belief as of the date hereof. PDI undertakes no obligation to revise or update
publicly any forward-looking statements for any
reason.