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Quintiles, Quest diagnostics form lab services joint venture

from Bloomberg

Quintiles Transnational Holdings Inc. and Quest Diagnostics Inc. agreed to pool their clinical-trial services for drugmakers into a joint venture. Quintiles will own 60 percent and Quest the rest of the venture, which would have earned $575 million in revenue had it existed last year, the companies said in a statement. The combination creates the world's second-largest provider of central laboratory services, they said. Laboratory Corporation of America Holdings is the biggest. more

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