Phase Forward Announces United States Department of Justice Clearance
August 06 2010 - 4:50PM
Business Wire
Phase Forward Incorporated (NASDAQ: PFWD), a leading provider of
data management solutions for clinical trials and drug safety,
announced that the United States Department of Justice has closed
its investigation of the proposed acquisition of Phase Forward by
Oracle Corporation (the “Merger”), and that the waiting period
under the Hard-Scott-Rodino Antitrust Improvements Act of 1976
regarding the Merger has been terminated. Completion of the
proposed merger remains subject to the satisfaction or waiver of
the other closing conditions specified in the merger agreement.
About Phase Forward
Phase Forward is a leading provider of integrated data
management solutions for clinical trials and drug safety. Phase
Forward’s products and services have been utilized in over 10,000
clinical trials involving more than 1,000,000 clinical trial study
participants at over 300 organizations and regulatory agencies
worldwide including: AstraZeneca, Boston Scientific, Dana-Farber
Cancer Institute, Eli Lilly, the U.S. Food and Drug Administration,
GlaxoSmithKline, Harvard Clinical Research Institute, Merck Serono,
Novartis, Novo Nordisk, PAREXEL International, Procter &
Gamble, Quintiles, sanofi-aventis, Schering-Plough Research
Institute, Servier, SGS, Tibotec and the U.K. Medicines and
Healthcare Products Regulatory Agency. Additional information about
Phase Forward is available at www.phaseforward.com.
Safe Harbor for Forward Looking Statements
Certain items in this press release may constitute
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involved certain risks and
uncertainties that could cause actual results to differ materially
from those indicated in such forward-looking statements, including,
but not limited to, the ability to complete the merger in light of
the various closing conditions; the impact of the announcement or
the closing of the merger on Phase Forward’s relationships with its
employees, existing customers or potential future customers; the
ability of Oracle to successfully integrate Phase Forward’s
operations and employees; the ability to realize anticipated
synergies and costs savings of the proposed merger; and such other
risks detailed in the Phase Forward’s Annual Report on
Form 10-K filed with the SEC on February 26, 2010 and
other reports filed with the SEC.
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