PARSIPPANY, N.J., Feb. 14, 2012 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII) today announced the signing of a three-year agreement with a current Top 5 global pharmaceutical client and renewal of a one-year engagement with a specialty pharmaceutical client. Approximately $48 million in revenue is expected to be generated in 2012 between both contracts.
Under the renewed contract with a current Top 5 pharmaceutical client, PDI will provide a dedicated sales team to exclusively promote products to primary care and specialty providers beginning Jan. 1, 2012. The first year of the three-year contract is expected to generate revenues to PDI of approximately $30 million; expected revenues for the outlying years will be determined prior to the start of each year.
The renewal contract with the specialty pharma company is to run for one year beginning Jan. 1, 2012, and is expected to generate revenues to PDI of approximately $18 million. Under the agreement, PDI will provide a dedicated sales team to call on women's health providers.
"These two contracts, which extend ongoing relationships, reaffirm the value that PDI can provide our customers and their confidence that we will consistently be able to deliver for them," said Nancy Lurker, Chief Executive Officer of PDI, Inc. "As a company, our goal is to provide customers with an outsourcing service offering a high return on investment and the strategic flexibility to help them most effectively deploy their resources."About PDI, Inc.PDI is a leading health care commercialization company providing superior insight-driven, integrated multi-channel message delivery to established and emerging health care companies. The company is dedicated to enhancing engagement with health care practitioners and optimizing commercial investments for its clients by providing strategic flexibility, full product commercialization services, innovative multi-channel promotional solutions, and sales and marketing expertise. For more information, please visit the company's website at http://www.pdi-inc.com. Forward-Looking StatementsThis press release contains forward-looking statements regarding future events and financial performance. These statements are based on current expectations and assumptions involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond PDI's control. These statements also involve known and unknown risks, uncertainties and other factors that may cause PDI's actual results to be materially different from those expressed or implied by any forward-looking statement. For example, with respect to statements regarding projections of future revenues, growth and profitability, actual results may differ materially from those set forth in this release based on the loss, early termination or significant reduction of any of our existing service contracts, the failure to meet performance goals in PDI's incentive-based arrangements with customers or the inability to secure additional business. Additionally, all forward-looking statements are subject to the risk factors detailed from time to time in PDI's periodic filings with the Securities and Exchange Commission, including without limitation, PDI's Annual Report on Form 10-K for the year ended December 31, 2010, and PDI's subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, PDI undertakes no obligation to revise or update publicly any forward-looking statements for any reason.