CINCINNATI, May 12, 2011 /PRNewswire/ -- Kendle (Nasdaq:
KNDL), a leading, global full-service clinical research
organization (CRO), today announced it is ranked a "top CRO to work
with" in the 2011 CenterWatch Global Investigative Site Survey.
Kendle is the only CRO to be ranked consistently among the top
three providers for each of the past five years in the annual
investigative site surveys conducted by the leading clinical trials
publishing and information services company. No other CRO has
finished in the top three more than twice during this period.
"Quality relationships with investigative sites around the world
are key to delivering clinical trial results on time and on budget
for our customers," said Stephen
Cutler, PhD, President and Chief Executive Officer.
"Kendle's consistent recognition as a top-rated CRO – the
only CRO to have been ranked among the top three providers
every year since 2007 – is a strong testament to the value we place
on building long-lasting relationships across the industry to meet
customer needs."
In the 2011 survey, Kendle scored highly for overall
relationship quality, with 84.2 percent of sites rating the Company
"Good" or "Excellent." Kendle was rated a top-three CRO in 22
of the 29 individual attributes included in the survey, receiving
one of the highest scores in the "staff professionalism" category,
which was voted by sites as the most critical factor in conducting
successful studies. The Company scored exceptionally well on the
ongoing study conduct and grant payment performance attributes.
Kendle also had one of the highest ratings for low monitor
turnover, reflecting a strong focus on development of long-term
relationships between CRAs and investigative site personnel.
CenterWatch conducted the global survey of investigative sites
between February and March 2011,
soliciting online responses from principal investigators,
sub-investigators and study coordinators about the quality of their
relationships with the CROs they have worked with in the past two
years. CenterWatch has conducted investigative site surveys since
1997, traditionally alternating between Europe and North
America, with 2011 marking the first year a global survey
was conducted. A total of 1,205 sites worldwide completed the
survey, which evaluated the performance of CROs across 29 specific
relationship attributes relating to general project management,
personnel and work-style and project-specific areas. In addition,
sites also provided feedback on the importance of these attributes
when conducting their clinical trials.
Kendle's rating as a top CRO in the 2011 Global Investigative
Site Survey follows its consistently strong performance in the
annual CenterWatch investigative site surveys conducted over the
past five years. In the 2010 survey of European investigative
sites, Kendle ranked third with 76.1 percent of sites surveyed
rating the Company as "Good" or "Excellent." The Company ranked
second in the 2009 survey of U.S. investigative sites, second in
the 2008 survey of European investigative sites and first overall
in the 2007 survey of U.S. investigative sites.
About Kendle
Kendle International Inc. (Nasdaq: KNDL) is a leading global
clinical research organization providing the full range of early-
to late-stage clinical development services for the world's
biopharmaceutical industry. Our focus is on innovative solutions
that reduce cycle times for our customers and accelerate the
delivery of life-enhancing products to market for the benefit of
patients worldwide. As one of the world's largest global providers
of Phase I-IV services, we offer experience spanning more than 100
countries, along with industry-leading patient access and retention
capabilities and broad therapeutic expertise, to meet our
customers' clinical development challenges.
On May 4, Kendle and INC Research
(http://www.incresearch.com/) jointly announced a definitive merger
agreement under which INC Research agreed, subject to the terms and
conditions of the merger agreement, to acquire Kendle in an
all-cash transaction with a total equity value of approximately
$232 million. The Board of Directors
of Kendle unanimously approved the transaction, which is expected
to close in the third quarter subject to approval by Kendle's
shareholders as well as satisfaction of customary closing
conditions and regulatory approvals.
For more information, please visit www.kendle.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, statements relating to the
proposed transaction between Kendle and INC Research and the
expected timing and completion of the transaction. Words such as
"anticipate," "believe," "plan," "estimate," "expect," "intend,"
"will," "should," "may," and other similar expressions are intended
to identify forward-looking statements. Such statements are based
upon the current beliefs and expectations of Kendle's management
and involve a number of significant risks and uncertainties, many
of which are difficult to predict and are generally beyond the
control of Kendle and INC Research. Actual results may differ
materially from the results anticipated in these forward-looking
statements. There can be no assurance as to the timing of the
closing of the transaction, or whether the transaction will close
at all. The following factors, among others, could cause or
contribute to such material differences: the ability to obtain the
approval of the transaction by Kendle's shareholders; the ability
to obtain required regulatory approvals of the transaction or to
satisfy other conditions to the transaction on the terms and
expected timeframe or at all; transaction costs; economic
conditions; a material adverse change in the business, assets,
financial condition or results of operations of Kendle; and the
effects of disruption from the transaction making it more difficult
to maintain relationships with employees, customers or other
business partners. Additional factors that could cause Kendle's
results to differ materially from those described in the
forward-looking statements can be found in the periodic reports
filed with the Securities and Exchange Commission and in the proxy
statement Kendle intends to file with the Securities and Exchange
Commission and mail to its shareholders with respect to the
proposed transaction, which are or will be available at the
Securities and Exchange Commission's website (http://www.sec.gov)
at no charge. Kendle assumes no responsibility to update any
forward-looking statements as a result of new information or future
developments except as expressly required by law.
Additional Information
This communication is being made in respect of the proposed
merger transaction involving Kendle and INC Research. In connection
with the proposed transaction, Kendle will file with the Securities
and Exchange Commission a proxy statement and will mail the proxy
statement to its shareholders. Shareholders are encouraged to read
the proxy statement regarding the proposed transaction in its
entirety when it becomes available, and before making any voting
decision, as it will contain important information about the
transaction. Shareholders will be able to obtain a free copy of the
proxy statement (when available), as well as other filings made by
Kendle regarding the Company, INC Research and the proposed
transaction, without charge, at the Securities and Exchange
Commission's website (http://www.sec.gov). These materials also can
be obtained, when available, without charge, by directing a request
to Kendle at info@kendle.com.
Participants in the Solicitation
Kendle and its executive officers, directors and other persons
may be deemed to be participants in the solicitation of proxies
from Kendle's shareholders with respect to the special meeting of
shareholders that will be held to consider the proposed
transaction. Information regarding the officers and directors of
Kendle is included in its Annual Report on Form 10-K for the year
ended Dec. 31, 2010, and the
Company's notice of Annual Meeting of Shareholders and Proxy
Statement, which were filed with the Securities and Exchange
Commission on March 16, 2011, and
April 15, 2011, respectively. Other
information regarding the participants in the solicitation and a
description of their direct and indirect interests, by security
holdings or otherwise, which may be different than those of
Kendle's shareholders generally, will be contained in the proxy
statement (when filed) and other relevant materials to be filed
with the Securities and Exchange Commission in connection with the
proposed transaction.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
SOURCE Kendle International Inc.