PDI Forms Interpace, Signs Marketing Pact

Contract sales organization PDI has created a new business unit, Interpace BioPharma, as part of its strategy for managing new commercial platforms. Interpace is structured to “provide the flexibility for additional fee-for-service agreements and other product commercialization opportunities,” according to a PDI statement.

Interpace BioPharma has entered into a two-and-a-half-year, fee-for-service agreement with a pharmaceutical company to market a treatment for knee pain in the U.S. and its territories. The agreement is expected to generate approximately $10 million of revenues for PDI in 2011 and $55 million over the life of the contract. The agreement, which runs through December 31, 2013, includes an option for a contract extension.

Under the agreement, Interpace will provide a dedicated full-time sales team and a fully integrated strategic and operational management team that, together with the pharmaceutical company, are responsible for the U.S. commercialization of the product.

“This major new agreement reflects the expanding capabilities of PDI and our commitment to grow our company through new service offerings like those delivered through Interpace BioPharma,” said Nancy Lurker, PDI’s chief executive officer. “In promoting this pain therapy, we intend to demonstrate again the value and strategic flexibility that PDI can deliver to clients while gaining an additional and steady source of revenue for PDI. PDI now has the ability to offer clients the opportunity to outsource the full range of PDI’s product commercialization services, thus providing a compelling option beyond traditional co-promotion deals or out-licensing agreements. We look forward to realizing the full potential of this opportunity.”

As part of the new unit’s launch, PDI has named John L. Parsons Jr. senior vice president and general manager of Interpace BioPharma. Before joining the company, Mr. Parsons was president and chief commercial officer of the U.S. division of TopoTarget A/S. Prior to that, Parsons was the founder and president from 2000 to 2006 of Parsons Strategic Associates LLC, a healthcare consulting firm offering strategic, operational, technical, investment and partnership services to emerging and established healthcare and pharmaceutical companies. He  previously held vice president roles at Quintiles and spent 25 years at Knoll Pharmaceutical Co.