Ropes & Gray Reps InVentiv In PharmaNet Purchase

Law360, New York (May 17, 2011, 4:40 PM EDT) -- Health care services company inVentiv Health said Tuesday that it has agreed to buy rival PharmaNet Development Group for an undisclosed sum, in its latest move to boost its presence in the $21 billion global pharmaceutical outsourcing industry.

The deal marks inVentiv Health's second purchase of a contract research organization this year. In January, the company snapped up i3 Global for $400 million.

"One of our key strategic objectives is to be recognized as the leader in every segment where we serve our clients," inVentiv Health...
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