SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
Current
Report
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): February 10, 2006
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(Exact
name of registrant as specified in its charter)
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Delaware
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0-24249
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22-2919486
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(I.R.S.
Employer
Identification
No.)
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Saddle
River Executive Centre
1
Route 17 South
Saddle
River, NJ 07458
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(Address
of principal executive office)
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Registrant’s
telephone number, including area code: (201) 258-8450
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(Former
name or former address, if changed since last report)
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR
240.13e-4(c))
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Item
8.01 Other Events.
On
February 10, 2006, PDI, Inc. issued a press release regarding the status of
its
fee for service contract sales engagements with AstraZeneca LP.
A
copy of
the press release is attached as Exhibit 99.1 hereto and is incorporated herein
by reference.
Item
9.01 Financial Statements and Exhibits.
(c) Exhibits
| 99.1 |
Press
Release dated February 10, 2006.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant
has duly caused this report to be signed on its behalf by the
undersigned
hereunto duly authorized.
PDI,
INC.
By:
/s/
Larry Ellberger
------------------------------------
Larry
Ellberger
Chief
Executive Officer
Date: February 13, 2006
EXHIBIT
INDEX
Exhibit
No. Description
___________ ____________
99.1 Press
Release dated February 10, 2006
EXHIBIT
99.1
For
more information contact:
Stephen
P. Cotugno
Executive
Vice President-Corporate Development
PDI,
Inc.
201.574.8617
PDI,
Inc. Comments on Status of AstraZeneca
Fee
for Service Contract Sales Programs
Saddle
River, New Jersey (February 10, 2006). PDI, Inc. (NASDAQ: PDII) a diversified
sales and marketing services provider to the biopharmaceutical industry,
announced today that it is engaged in discussions with AstraZeneca regarding
the
status of their fee for service contract sales engagements. PDI currently has
approximately 800 field representatives under contract with AstraZeneca. PDI
expects there will be significant reductions to the number of representatives
contracted with AstraZeneca and will comment further once it has more definitive
information regarding the scope and timing of the anticipated
changes.
Additionally,
PDI announced that due to the aforementioned developments, it will not be
presenting at the upcoming UBS Global Healthcare Services Conference in New
York
City. PDI was scheduled to present on Monday, February 13, at 2
P.M.
About
PDI
PDI,
Inc.
(NASDAQ: PDII) is a diversified sales and marketing services provider to the
biopharmaceutical industry. PDI’s comprehensive set of outsourced sales and
marketing 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 our Performance Sales Teams™, which are
dedicated teams for specific clients; and Select Access™, our targeted sales
solution that leverages an existing sales force; marketing research and
consulting; and medical education and communications. 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, 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 PDI has taken, the financial viability of certain companies whose
debt
and equity securities we hold, the outcome of certain litigations, PDI's ability
to implement its current business plans, the termination of or material
reduction in the size of any of our customer contracts, 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.