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Biotech / Medical : qtrn(quintiles trans) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Rice who wrote (32)	9/16/1999 8:54:00 AM
From: KM	Read Replies (1) \| Respond to of 105

Blow up. Stock offered down 15 Thursday September 16, 1:07 am Eastern Time Quintiles sees lower than expected Q3, Q4 RESEARCH TRIANGLE PARK, N.C., Sept. 15 (Reuters) - U.S.-based pharmaceutical provider Quintiles Transnational Corp. said it sees its third and fourth quarter results falling short of expectations in part because of the early end of several clinical programmes. Based on preliminary results received this week for the month of August, and a revised forecast for September, management estimates that earnings for the third quarter will be about $0.27 per share, the company said. Wall Street had been expecting the company to earn about $0.36 per share for the quarter, according to First Call/Thomson Financial. The gap stems in part from its Quintiles Product Development service group, which has been affected during the quarter in part by the early termination of several large-scale ongoing clinical programmes involving a specific class of cardiovascular drugs. The company also has revised its estimates for fourth quarter earnings to about $0.32 per share. First Call/Thomson Financial was expecting fourth quarter earnings of $0.39 per share. Earnings are projected by management to grow about 25 percent during the year 2000, the company said. But the company said its project backlog remains strong.