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PDI, Inc. (Nasdaq: PDII) $8.83. Today announced that its seasonal sales services agreement with a top-10 pharmaceutical company has been renewed for an additional season. That company will continue to utilize PDI's Shared Sales team beginning in October 2010 through March 2011 to reach pediatric and primary care physicians. This initiative is expected to generate approximately $12 million in revenue for PDI during the Fall 2010-Spring 2011 promotional season.
"Renewal of this engagement over six consecutive seasons demonstrates PDI's ability to consistently provide best-in-class solutions that deliver meaningful results," said Nancy Lurker, PDI's CEO. "We are pleased that our clients continue to recognize the strategic value and flexibility that outsourcing with PDI can provide."
What They Do: PDI is a leading provider of integrated promotional outsource services to established and emerging healthcare companies.
China Information Technology (Nasdaq: CNIT) $6.17. Today announced that its newly signed contracts in the third quarter of 2010, valued at $42 million, resulted in a record high for the Company and represents an increase of 40% compared to the 2009 third quarter. Management expects that the majority of these contracts will be recognized as revenue in 2010.
The Company won contracts from clients in 25 provinces and provincial cities throughout China. Some important contracts secured in the third quarter included: $15 million for a security system for the 2011 Summer Universiade (Shenzhen); $1.3 million for a Digital City Project for the Haikou City Planning Bureau, Hainan Province; $1.3 million for a Police-use GIS for the Tianjin City Public Security Bureau.
What They Do: China Information Technology, Inc., through its subsidiaries and other consolidated entities, specializes in Geographic Information System ("GIS"), digital public security and hospital information systems, with the goal of being the largest GIS software provider in China.
Omeros Corporation (Nasdaq: OMER) $7.40. Today announced that the National Institute on Drug Abuse (NIDA) has provided an additional grant to fund clinical studies for the Company's Addiction program. This grant, which is for a total of approximately $3.6 million to be paid over a four-year period in equal amounts, will fund direct and indirect costs of Phase 2 clinical studies to be conducted by researchers at the New York State Psychiatric Institute (NYSPI). In Omeros' Addiction program, the Company is developing proprietary compositions that include peroxisome proliferator-activated receptor gamma (PPARgamma) agonists for the prevention and treatment of addiction to substances of abuse, such as opioids, nicotine and alcohol, as well as other compulsive behaviors, including eating disorders. Data from earlier European pilot clinical studies and animal models of addiction have demonstrated a previously unknown link between PPARgamma and addiction disorders.
What They Do: Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system.
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