Friday, November 14, 2014

Colin Shannon: PRA Health Sciences, Inc. Announces Pricing of its Initial Public Offering

PRA Health Sciences, Inc. Announces Pricing of its Initial Public Offering


Colin Shannon, PRAHS White Paper, PRA Health Sciences, CEO Colin Shannon, Colin Shannon Wake County12 November 2014, Raleigh, N.C. – PRA Health Sciences, Inc. (“PRA”), a leading global contract research organization, today announced the pricing of its initial public offering of 16,976,744 shares of its common stock at $18.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market on November 13, 2014 under the ticker symbol “PRAH,” and the offering is expected to close on November 18, 2014, subject to customary closing conditions. PRA has granted the underwriters a 30-day option to purchase up to an additional 2,546,511 shares at the initial public offering price.

PRA will receive net proceeds of approximately $286.5 million after deducting underwriting discounts and commissions and estimated offering expenses, and intends to use the proceeds to reduce debt and for general corporate purposes. Specifically, PRA plans to redeem $150.0 million in aggregate principal amount of the 9.5% Senior Notes due 2023 at a redemption price of 109.5% of their face value, repay $108.6 million of the senior secured term loan facility maturing in September 2020 of PRA Holdings, Inc., and use the remaining net proceeds for general corporate purposes. We expect to use net proceeds from any exercise of the underwriters option to repay additional senior secured term loans.

Jefferies LLC, Citigroup Global Markets Inc., KKR Capital Markets LLC, UBS Securities LLC, Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated and William Blair & Company, L.L.C. are acting as co-managers for the offering.

A registration statement relating to shares of the common stock of PRA has been declared effective by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of such shares of common stock in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Colin Shannon, PRAHS White Paper, PRA Health Sciences, CEO Colin Shannon, Colin Shannon Wake CountyThe offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Jefferies LLC at Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022 or by telephone at 1-877-547-6340 or by email at prospectus_department@jefferies.com; Citigroup Global Markets Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at 1-800-831-9146 or by email at prospectus@citi.com; UBS Securities LLC at Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171 or by telephone at 1-888-827-7275; Credit Suisse Securities (USA) LLC at Attention: Prospectus Department, One Madison Avenue, New York, New York 10010 or by telephone at 1-800-221-1037 or by email at newyork.prospectus@credit-suisse.com; and Wells Fargo Securities, LLC at Equity Syndicate Department, 375 Park Avenue, New York, New York 10152 or by telephone at 1-800-326-5897 or by email at cmclientsupport@wellsfargo.com.

PRA Health Sciences, Inc. is one of the world’s leading global contract research organizations, or CROs, by revenue, providing outsourced clinical development services to the biotechnology and pharmaceutical industries. PRA’s global clinical development platform includes more than 75 offices across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East and more than 10,000 employees worldwide. Since 2000, PRA has performed approximately 2,300 clinical trials worldwide and has worked on more than 100 marketed drugs across several therapeutic areas. In addition, PRA has participated in the pivotal or supportive trials that led to U.S. Food and Drug Administration, or international regulatory approval of more than 45 drugs.
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PRA has therapeutic expertise in areas that are among the largest in pharmaceutical development, including
oncology, central nervous system, inflammation and infectious diseases. PRA believes that it provides its clients with one of the most flexible clinical development service offerings, which includes both traditional, project-based Phase I through Phase IV services, as well as embedded and functional outsourcing services. The company has invested in medical informatics and clinical technologies designed to enhance efficiencies, improve study predictability, and provide better transparency to clients throughout their clinical development processes.

INQUIRES: Christine Rogers, Manager – Public Relations, Corporate Communications
EMAIL: rogerschristine@prahs.com PHONE: +1 919.786.8463

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Wednesday, November 12, 2014

Colin Shannon: World Orphan Drug Congress - EU

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World Orphan Drug Congress - EU


NOVEMBER 12 - 14

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Colin Shannon, PRAHS White Paper, PRA Health Sciences, CEO Colin Shannon, Colin Shannon Wake CountyWorld Orphan Drug Congress is Europe’s largest commercially-focused event for the rare disease research and advocacy. It is where pharma, biotech, patient groups and regulators come together to partner. A marketplace where CROs, CMOs, EQMs and other service providers showcase. A strategic keynote congress that presents real ‘how to’ case studies. A pre-qualification medium that facilitates 1-to-1 meetings to get business done. A rich learning experience through a multi-layered and multi-tracked content offering.
DETAILS
Start:
November 12
End:
November 14
Website:
http://www.terrapinn.com/conference/world-orphan-drug-congress/index.stm
VENUE
The Egg
Rue Bara 175, Brussels , 1070 Belgium
+ Google Map

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Thursday, October 16, 2014

Colin Shannon: Biosimilars International Conference 2014

 
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BIOWAIVERS & BIOSIMILARS

October 27 - 29

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Biosimilars International Conference-2014 provides an in-depth discussion of key industry issues essential to biosimilars including cost effectual development and progression of methods, operation of clinical trials, appraising safety and quality, key strategies for dissolution testing, overcoming regulatory and legal issues and achieving access to emerging markets and commercialising biosimilars.

Speaker: Rodeina Challand (Executive Director, Biosimilar Development)

Presentation: Challenges in Demonstrating Biosimilarity and Interchangeability of Biosimilar Products and keynote address Biosimilars in Emerging Markets: Regulatory and Commercial Considerations.

Details

Start: October 27
End: October 29
Website: http://www.pharmaceuticalconferences.com/biowaivers-biosimilars-2014/
 

Venue

Hyderabad International Convention Centre
Novotel & HICC Complex (Near Hitech City), PO Bag , Hyderabad, 500081 India
 
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Colin Shannon: Evidence 2014 – Americas

EVIDENCE 2014 – AMERICAS

October 22 - 23

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Evidence USA is the America’s largest and most holistic event on the use of real world outcomes for pharmaceutical products: an exhibition, a series of seminars, and a multi track strategic conference.
Speaker: Juliane Mills (Associate Director, Scientific Affairs)
Presentation: Optimizing Site Selection and Management for Observational Research

Details

Start: October 22
End: October 23
Website: http://www.healthnetworkcommunications.com/conference/evidence-us/

Venue

The Revere Hotel
200 Stuart St, Boston, MA 02116 United States
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Colin Shannon: Join us at the Evolution Summit - EU


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EVOLUTION SUMMIT – EU

October 20 - 22

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The 13th annual Evolution Summit is the premium forum bringing elite buyers and sellers together. As an invitation-only event taking place behind closed doors, the summit offers clinical research leaders and global CROs an intimate environment for focused discussion of key new drivers shaping drug development strategies.

Details

Start: October 20
End: October 22
Website:http://www.evolution-summit.com/
 

Venue

Le Méridien Beach Plaza
22 Avenue Princesse Grace, Monte Carlo, 98000 France
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Tuesday, October 14, 2014

Colin Shannon: Engaging Clinical Trial Sites: The Role of the Clinical Trial Liaison





Author:
MARTIN LEE, MD
Vice President, Investigator Relations, PRA Health Sciences
Key Customers in Clinical Research

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The ability to engage customers is a primary driver of business success because fully engaged customers tend to purchase more and are overall more profitable than those who are less engaged (Dasu & Chase, 2013).
Enrollment in clinical trials is heavily dependent on two very important customers: the research subject and the clinical trial investigator. Research subjects are highly valuable since it is obviously impossible to complete a clinical trial without a willing group of participants. There are many groups and even entire companies that specialize in engaging potential subjects and connecting them to clinical trials (Centerwatch 2004). A variety of “direct-to-patient” strategies are used to engage potential subjects, including traditional media advertising (TV, radio, newspaper), Web-based strategies (including social media), and community outreach among others.

The effectiveness of these strategies depends on two key factors: the ability to reach potential trial subjects directly and the ability to easily communicate the benefit of trial participation to potential participants. For some types of studies, direct-to-patient strategies are highly effective and may be all that are needed to ensure that enrollment goes smoothly. For many other trials, however, the effectiveness of direct-to-patient approaches is lower, as the condition being studied may be less common or the trial may be complex in its goals or design. 

In these situations, the clinical trial investigator (and by extension the entire clinical trial site) becomes a much more important customer. Clearly, our recruitment strategies need to target the right customer. 


THE CLINICAL TRIAL SITE AS A CUSTOMER

The clinical trial “site” is composed of many different customers, most importantly investigators and research staff.  Engaging each customer requires an individualized approach.

A quality protocol that addresses a relevant clinical question is the first need of clinical trial investigators. The protocol must be well written and provide clear and appropriate eligibility criteria, a succinct and accurate description of study procedures and accessible dosage modification criteria. Provision of easily followed guidelines for managing the drug’s side effects is extremely helpful. Investigators also need the detailed information contained in the Investigator’s Brochure to further assist with understanding the trial rationale and help assess toxicities that may be experienced by individual patients.  

In addition, when investigators are engaged on a scientific level, they are able to take ownership of the success of the study. While comprehensive training on the scientific background often occurs at the site initiation visit and investigator meeting, ongoing reinforcement of the trial’s key messages and showing sincere appreciation for the investigator’s efforts should occur throughout the course of the trial. Where possible, this reinforcement and recognition should come from a sponsor or a CRO personnel who has the skills to discuss patient care and science at the level of the physician.

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Beyond reinforcement and recognition, specific needs may differ depending on the investigator, and using a tailored approach is critical. For example, academic physicians will very likely be interested in the latest developments in the science of the disease and study drug and will often spend the time to have in-depth discussions on these topics. They may additionally have interest in conducting investigator-initiated clinical studies and/or translational research that may further the goals of the trial’s sponsor, thus creating a mutually beneficial collaboration. The busy practitioner, on the other hand, is generally incorporating research into his or her daily practice. These physicians generally appreciate succinct messages that reinforce the trial’s goals and allow them to easily convey the benefits of trial participation to potential subjects. Time is in extremely short supply for these physicians, and activities that require only small amounts of time will be more effective for this group. 

Having effective research staff at each site is critical to enrollment performance. The ability of the research staff to interact with both potential subjects and investigators creates an environment in which the site can perform to its fullest potential. Their key duties include:

•_ _Establishing an effective pre-screening strategy to recruit or identify potential subjects within the site
•_ _Communicating the benefits of clinical trial enrollment to both patients and physicians
• Training of all site staff, including data managers and research assistants
• Interacting with sponsors and CROs
• Maintenance of complete study records
• Timely data entry and response to queries
 
Because both the number of duties that fall on the research staff and the complexity of those duties are high, keeping these tasks as simple and easy to perform as possible should be a primary goal. In this effort, sponsors and CROs should strive to make the staff’s lives as easy as possible and to demonstrate that they genuinely care about keeping their lives simple. Both of these are critical to building trust, which is a cornerstone of developing and maintaining engagement. In addition, a balance must be maintained in the relationship, as there are needs of the study that at times may require the research staff to “go the extra mile” to meet a deadline, such as a data sweep prior to a data management committee meeting or database lock. The following list provides a summary of factors that can help to maintain effective research staff engagement:
The traditional medical science liaison (MSL) role has expanded since its inception in the late 1960s and today focuses on advancing standards of care and optimizing patient outcomes (2010; 91[3], 394-398). While in previous years this role was often part of sales and marketing, more recently in most pharmaceutical companies the MSLs are generally part of medical affairs. The primary duties of a typical pharmaceutical MSL include management of key opinion leaders (KOLs) as well as providing detailed information to healthcare providers on marketed products, including the background science, clinical trial results and post-marketing experience. In addition, MSLs frequently interact with pharmacists, pharmacy benefit managers or health insurers. Depending on the company, internal customers of the MSL may include sales, marketing, clinical development and medical information departments.

The clinical trial liaison (CTL) is a specialized role modeled after the MSL but is exclusively focused on engaging sites participating in clinical trials. The CTL works with all the sites on the trial to ensure that all investigators and study staff continue to be fully engaged throughout the course of the trial. In contrast to the clinical research associate (CRA), who usually is working on only a single study, the CTL serves as the consistent face of the sponsor or CRO across multiple trials. A longer term benefit of the CTL for the sponsor or CRO is the ability to select sites that are more likely to effectively perform on future clinical trials.
The interaction of the CTL with the site begins at the time of the site initiation visit. At this time, the CTL presents the scientific rationale for the study and discusses the eligibility criteria and study procedures in detail with the principal investigator (PI). Any feedback from the PI is provided back to the study team quickly. Once the trial is active and throughout the course of the trial, the CTL works with the PI to be certain that current information is available on the molecule’s development and to engage the PI in discussions on the study as well as on potential other areas for development. The degree of study awareness among sub-investigators is variable at most centers. The CTLs also meet with the site’s sub-investigators (including fellows, physician assistants and nurse practitioners where applicable) to help maintain focus on the study’s overall design, rationale and eligibility criteria. With research staff, the CTL works to ensure that appropriate pre-screening procedures are implemented so that all potentially eligible patients are considered for study participation. The CTL also provides supplemental training on more complex study procedures when required. In addition to working with each site independently, the CTL coordinates communication between sites in small group teleconferences and in small group meetings designed to maintain enthusiasm over the course of the trial.

The value proposition for clinical investigators and research site staff interacting with the CTL includes better understanding of the scientific background and clinical trial design, as well as the ability to have their site considered for future clinical trials that are of interest to, and will successfully enroll at, the site. The CTL also serves as a familiar point of contact for the site, responds to requests and serves at the point of contact between the trial medical monitor and the site when potential performance issues are identified.

The ability to engage investigative sites throughout the course of a clinical trial is a critical success factor for both enrollment and data quality. By building trust, respect and appreciation for the very difficult job of conducting clinical research, we can help to ensure the successful completion of our clinical trials. In doing so, it is important to realize that our sites are not a single customer, but a collection of customers with different desires and needs, and we must tailor our strategies to effectively engage them.
The CTL role has evolved to meet the needs for site engagement over the course of the trial and represents a new approach that has the potential to significantly impact enrollment. PRA has implemented a fully compliant CTL program to support our ongoing trials. The service is staffed by physicians in PRA’s Medical Affairs and Therapeutic Expertise groups and by PharmDs and PhDs who have clinical experience and can provide effective interactions with site personnel throughout the trial. All team activities will be managed by a program coordinator who will serve as the channel of communication between sites, internal project teams and the liaisons.


Bibliography
Anderson, D. (2004). A Guide to Patient Recruitment and Retention. Centerwatch. Boston, MA.
Baker, D. (2010). The role of the medical science liaison in industry. AORN J, 91[3], 394-398.
Dasu, S., & Chase, R. (2013). 

The Customer Service Solution. New York: McGraw Hill Education.
For further information on PRA’s approach to clinical trial research, please contact your PRA Account Director or the PRA employee below:

Martin Lee, MD
Vice President
Investigator Relations
9755 Ridge Drive
Lenexa, KS  66219
+1 (913) 410-2029

World Headquarters
4130 ParkLake Avenue, Suite 400
Raleigh, North Carolina 27612 USA
+1 (919) 786-8200 PH
+1 (919) 786-6201 FAX
 


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