PharmaNet Development Group, Inc. to Announce Fourth Quarter and Full Year 2008 Financial Results on February 25, 2009
05 Fevereiro 2009 - 9:05PM
PR Newswire (US)
PRINCETON, N.J., Feb. 5 /PRNewswire-FirstCall/ -- PharmaNet
Development Group, Inc. (the "Company") (NASDAQ:PDGI), a leading
provider of clinical development services, today announced that it
will release its fourth quarter and full year 2008 financial
results on Wednesday, February 25, 2009, after market close. About
PharmaNet Development Group, Inc. PharmaNet Development Group,
Inc., a global drug development services company, provides a
comprehensive range of services to the pharmaceutical,
biotechnology, generic drug and medical device industries. The
Company offers early and late stage consulting, Phase I clinical
studies and bioanalytical analyses, and Phase II, III and IV
clinical development programs. With approximately 2,500 employees
and 41 facilities throughout the world, PharmaNet is a recognized
leader in outsourced clinical development. For more information,
please visit our website at http://www.pharmanet.com/.
Forward-Looking Statements Certain statements made in this press
release are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 (the "Act") and
are subject to a variety of risks and uncertainties. Additionally,
words such as "seek," "intend," "believe," "plan," "estimate,"
"expect," "anticipate" and other similar expressions are
forward-looking statements within the meaning of the Act. Such
forward-looking statements include PharmaNet Development Group,
Inc.'s decision to enter into an agreement to be acquired by JLL,
the ability of PharmaNet Development Group, Inc. and JLL to
complete the transaction contemplated by the definitive agreement,
including the parties' ability to satisfy the conditions set forth
in the merger agreement, and the possibility of any termination of
the definitive agreement. The forward-looking statements contained
in this press release are based on our current expectations, and
those made at other times will be based on our expectations when
the statements are made. Some or all of the results anticipated by
these forward-looking statements may not occur. Factors that could
cause or contribute to such differences include, but are not
limited to, the expected timetable for completing the proposed
transaction, the risk and uncertainty in connection with a
strategic alternative process, not having sufficient funds to pay
the principal due upon conversion of the outstanding notes or to
repurchase our outstanding notes, which we may be required to do
beginning in August 2009, the impact of the current economic
environment, the impact of our indebtedness on our financial
condition or results of operations and the terms of our outstanding
indebtedness limiting our activities, the impact of the
investigation by the Securities and Exchange Commission, our
limited insurance coverage in connection with the settled
securities class action lawsuit, limited additional coverage for
the recently settled derivative actions and associated future legal
fees, the potential liability related to the recently filed
securities class action lawsuit, the impact of ongoing tax audits,
our ability to generate new client contracts and maintain our
existing clients' contracts, our evaluation of our backlog and the
potential cancellation of contracts, the possibility we under-price
our contracts or overrun cost estimates and the effect on our
financial results by failure to receive approval for change orders
and by delays in documenting change orders, our ability to
implement our business strategy, international economic, political
and other risks that could negatively affect our results of
operations or financial position, changes in outsourcing trends and
regulatory requirements affecting the branded pharmaceutical,
biotechnology, generic drug and medical device industries, the
reduction of expenditures by branded pharmaceutical, biotechnology,
generic drug or medical device companies, actions or inspections by
regulatory authorities and the impact on our clients' decisions to
not award future contracts to us or to cancel existing contracts,
the impact of healthcare reform, the fact that one or a limited
number of clients may account for a large percentage of our
revenues, the incurrence of significant taxes to repatriate funds,
the fluctuation of our operating results from period to period, our
assessment of our goodwill valuation, the impact of foreign
currency fluctuations, tax law changes in Canada or in other
foreign jurisdictions, investigations by governmental authorities
regarding our inter-company transfer pricing policies or changes to
their laws in a manner that could increase our effective tax rate
or otherwise harm our business, our lack of the resources needed to
compete effectively with larger competitors, our ability to
continue to develop new assay methods for our analytical
applications, or if our current assay methods are incorrect, our
ability to compete with other entities offering bioanalytical
laboratory services, our potential liability when conducting
clinical trials, our handling and disposal of medical wastes,
failure to comply with applicable governmental regulations, the
loss of services of our key personnel and our ability to attract
qualified staff, the continued effectiveness and availability of
our information technology infrastructure, losses related to our
self-insurance of our employees' healthcare costs in the United
States, our ability to attract suitable investigators and
volunteers for our clinical trials, the material weaknesses
relating to our internal controls, and risks and uncertainties
associated with discontinued operations. Further information can be
found in the Company's risk factors contained in its Annual Report
on Form 10-K for the year ended December 31, 2007 and most recent
filings. The Company does not undertake to update the disclosures
made herein, and you are urged to read our filings with the
Securities and Exchange Commission. Contact: Anne-Marie Hess Phone:
(609) 951-6842 E-mail: DATASOURCE: PharmaNet Development Group,
Inc. CONTACT: Anne-Marie Hess of PharmaNet Development Group, Inc.,
+1-609-951-6842, Web Site: http://www.pharmanet.com/
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