
For
more information contact:
Stephen
P. Cotugno
Executive
Vice President-Corporate Development
PDI,
Inc.
201.574.8617
PDI,
Inc. Comments on Status of GlaxoSmithKline Fee for Service Contract Sales
Program
Saddle
River, New Jersey (September 26, 2006). PDI, Inc. (NASDAQ: PDII) a contract
sales and marketing services provider to the biopharmaceutical industry, today
announced that it has received verbal notification from GlaxoSmithKline (GSK)
of
its intention not to renew its contract sales engagement with PDI for 2007.
The
contract, which represents approximately $65 million to $70 million in revenue
on an annual basis, will expire as scheduled on December 31, 2006.
Mr.
Michael Marquard, PDI’s CEO stated, “While we are disappointed with this
decision, we are proud of the work we have done for GSK over the past three
years and look forward to working with them again in the future. Our immediate
priority is to develop other opportunities to redeploy our employees who
comprise this sales team.”
About
PDI
PDI,
Inc.
(NASDAQ: PDII) is a contract sales and marketing services provider to the
pharmaceutical industry offering a comprehensive set of outsourced solutions
for
established and emerging pharmaceutical companies. PDI is dedicated to
maximizing the return on investment for its clients by providing strategic
flexibility; sales, marketing, and commercialization expertise; and a philosophy
of performance.
Headquartered
in Saddle River, NJ, 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 infrastructure.
PDI also offers marketing research and consulting services through TVG in
Dresher, PA, and medical communications services through Pharmakon in
Schaumburg, IL. In addition, PDI is a high quality provider of ACCME-accredited
continuing medical education through Vital Issues in Medicine (VIM ®) in
Dresher, PA. 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. Recognized as an industry pioneer, PDI remains
committed to continuous innovation and to maintaining the industry’s highest
quality employees.
For
more
information, visit the Company’s website at www.pdi-inc.com.