PDI
Announces New $23 Million Contract Sales Engagement with
Top-Five
Pharmaceutical Company
SADDLE
RIVER, N.J. July 2,
2007 --
PDI, Inc. (Nasdaq: PDII), a provider of commercialization services to the
biopharmaceutical industry, today announced that it has signed an agreement
with
a top-five pharmaceutical company which is expected to generate approximately
$23
million
in revenue for PDI over its one year term. This new dedicated contract sales
engagement targets primary care physicians and specialty audiences.
Mr.
Michael Marquard, PDI's CEO, commented, "The selection of PDI for this
assignment acknowledges our well-established reputation and documented success
as a leading sales services provider. Additionally, we believe that our proven
expertise in deploying and managing primary care and specialty sales forces
was
a particularly important factor in selecting PDI. We are extremely pleased
to
have been chosen for this competitive opportunity and we will deliver our best
effort to achieve our customer’s objectives in accordance with PDI’s performance
driven philosophy.”
About
PDI
PDI
provides commercialization services for established and emerging
biopharmaceutical companies. The Company 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.
PDI
operates in two areas, Sales Services and Marketing Services. Our Sales Services
include Performance Sales Teams(TM), which are dedicated teams for specific
customers; Select Access(TM), our targeted sales solution that leverages an
existing infrastructure; and PDI ON DEMAND, innovative sales services that
provide rapid, customized sales force solutions tailored to meet local, regional
and seasonal needs. Our Marketing Services include marketing research and
consulting services through TVG Market Research & Consulting 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(R)), located in Dresher, PA.
PDI'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 customers. Recognized as an industry pioneer, PDI
remains committed to continuous innovation and to retaining the industry's
highest-quality employees. For more information, please 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,
the
termination of or material reduction in the size of any of our customer
contracts, the loss by our or our customers' intellectual property rights,
our
ability or inability to secure new business to offset the recent loss of
customer contracts and the terms of any replacement business we secure, changes
in our operating expenses, 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 litigation, PDI's ability to implement its current
and future 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, 2006, and PDI's subsequently filed quarterly reports on Form 10-Q and
current reports on Form 8-K. 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.
CONTACT:
PDI, Inc.
Jeffrey
Smith, Chief Financial Officer
201-258-8451
JESmith@pdi-inc.com
www.pdi-inc.com
or
Investor
Contacts:
Lippert/Heilshorn
&
Associates,
Inc.
Kim
Sutton Golodetz, 212-838-3777
kgolodetz@lhai.com
Bruce
Voss, 310-691-7100
bvoss@lhai.com
SOURCE:
PDI, Inc.