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Strong Demand For Quintiles Its First Day On NYSE

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There seems to be strong investor demand on the New York Stock Exchange for North Carolina-based Quintiles.

Trading began today for the drug-testing company at $40 a share, and by mid-day – shares were up to almost $44.  The price closed at $42.

Phil Bridges, a spokesman for Quintiles, says this is an iconic moment in the company's history.“It’s really more of a re-capitalization effort," he says. "So that’s how we are presenting it.  And we’ll still be working toward providing solutions to our customers and helping them bring life-saving medicines to market everyday.”

Quintiles announced late yesterday that it would sell about 23.7 million shares of its common stock.  This initial public offering could raise close to one billion dollars.  

Quintiles has 27,000 employees worldwide; 2,000 of them are in the Triangle.   
 

Leoneda Inge is WUNC’s race and southern culture reporter, the first public radio journalist in the South to hold such a position. She also is co-host of the podcast Tested and host of the special podcast series, PAULI. Leoneda is the recipient of numerous awards from AP, RTDNA and NABJ. She’s been a reporting fellow in Berlin and Tokyo. You can follow her on Twitter @LeonedaInge.
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