Quintiles makes Fortune 500 list
Durham-based Quintiles has been named to the Fortune 500 list of the largest U.S. companies by revenue.
The biopharmaceutical services company was No. 486 on the list. The company, whose major business is the contract management of clinical trials for drug development firms, brought in $5.099 billion in total revenues in 2013.
“Being named to the Fortune 500 is a significant milestone in Quintiles’ history,” CEO Tom Pike said in a statement.
The company was named to the ranking of the top 500 firms by revenue after returning to the stock market as a public company last year.
The Fortune 500 list includes U.S. companies that file financial statements with a government agency.
The company’s 2013 stock market entrance was the second time the company has gone public.
It went public in 1994, but was then later taken private again in a buy-back of stock led by company founder Dennis Gillings, a former biostatistics professor at the University of North Carolina at Chapel Hill.
“We operated as a private company for a full decade before returning to the public markets via IPO in 2013,” Pike said in the statement. “Our inclusion in the Fortune 500 is another indicator that Quintiles is one of the most important companies headquartered in the United States, conducting business in 100 countries.
Wal-Mart Stores Inc. topped the Fortune 500 list, while Apple Inc. was No. 5. The full FORTUNE 500 list and related stories appear in the magazine’s June 16 issue and at www.fortune.com/500.