Business

A staple of the Durham economy, and your commute on I-40, has made noticeable changes

QuintilesIMS recently changed its name to IQVIA, a move that comes around a year after Durham-based Quintiles’s $17.6 billion merger with Connecticut-based IMS Health Holdings.
QuintilesIMS recently changed its name to IQVIA, a move that comes around a year after Durham-based Quintiles’s $17.6 billion merger with Connecticut-based IMS Health Holdings. Courtesy of IQVIA

Since 2009, the bright, red “Q” has been a sign that you had crossed the Wake County line and entered into Durham.

But the familiar markings of the Quintiles headquarters, just off Interstate 40 on Emperor Boulevard in Durham, are no more.

Quintiles – which became QuintilesIMS last year in the wake of a $17.6 billion merger – is now called IQVIA, and it has swapped its trademark red logo for a more subdued blue acronym this month.

The contract research organization, which provides research services to pharmaceutical and medical technology companies, will also change its ticker on the New York Stock Exchange from “Q” to “IQV” later this month.

The new name and logo is an effort to create a unique identity for the combined contract research companies. Last year, Durham-based Quintiles completed a merger with Connecticut-based IMS Health Holdings valued at nearly $18 billion, which resulted in the creation of a giant dual-headquartered company and the retirement of Quintiles CEO Tom Pike.

The combined company is now led by former IMS Health Holdings CEO Ari Bousbib, who is based in Danbury, Connecticut.

IQVIA has more than 50,000 employees worldwide, including about 2,500 in the Triangle. The company is the eighth-largest employer in Durham County, according the Greater Durham Chamber of Commerce.

In its most recent quarterly report, IQVIA reported revenue of more than $2 billion, a 77.6 percent increase from the same period a year ago.

Quintiles was founded on the campus of the UNC-Chapel Hill by Dennis Gillings in 1982. The company moved into its current 10-story Durham headquarters in 2009, after receiving around $23 million in tax breaks and other incentives from state and local governments to keep its headquarters in North Carolina.

Zachery Eanes: 919-419-6684, @zeanes

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