SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 2, 2001
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PDI, INC.
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(Exact name of Registrant as specified in its charter)
DELAWARE 0-24249 22-2919486
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(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification No.)
10 Mountainview Road,
Upper Saddle River, NJ 07458
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(Address of principal executive office) (Zip Code)
(201) 258-8450
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Registrant's telephone number, including area code:
Professional Detailing, Inc.
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(Former name or former address, if changed since last report)
Item 5. Other Events
On October 2, 2001 the Registrant issued the following press release:
"PDI Partners with Eli Lilly and Company
to Co-Promote Evista(R)
Upper Saddle River, NJ, October 2, 2001 -- PDI, Inc. (Nasdaq: PDII) announced
today that it has signed an agreement with Eli Lilly and Company (NYSE: LLY) to
co-promote Evista (raloxifene HCl) in the United States. Evista is approved in
the United States for the prevention and treatment of osteoporosis in
postmenopausal women.
Under the terms of the agreement, PDI will provide a significant number of sales
representatives to co-promote Evista to U.S. physicians. PDI's sales
representatives will augment the Lilly sales force currently promoting Evista.
PDI will be compensated based on net sales above a predetermined level. The
agreement runs through December 31, 2003.
"We are truly excited about this opportunity to work with a premier company for
the sales and marketing of a tremendous product such as Evista," said Charles
Saldarini, vice chairman and chief executive officer, PDI. "We expect to make a
significant contribution to the continued success of Evista. In addition, we
look forward to creating further business partnerships with companies that
consider us a valuable resource for their successful product management."
"Lilly is very pleased to partner with PDI," said Gino Santini, president, U.S.
Operations, Lilly. "This agreement underscores Lilly's belief in Evista, in
terms of its current indications and the great promise of what Evista may bring
to the market in the future. This partnership is a critical step in ensuring
that Lilly has the proper support in the marketplace to drive demand for Evista
today and to further build the foundation for tomorrow's success."
PDI also announced that it will be releasing its financial results for the
quarter ending September 30, 2001 on Monday, November 12, 2001, after the market
closes. PDI will hold a
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conference call and simultaneous webcast on Tuesday, November 13, 2001, to
discuss results for the quarter. At that time, PDI will update the guidance
previously given in its press release dated August 23, 2001.
About Evista
Evista is a selective estrogen receptor modulator (SERM) that significantly
reduces the risk of fractures in postmenopausal women with osteoporosis.
Additionally, Evista does not stimulate breast and uterine tissues and has a
favorable effect on lipid profiles. Evista is also being studied to determine
its ability to reduce the incidence of invasive breast cancer and reduce the
risk of heart attack and heart-related death in postmenopausal women at high
risk for these diseases. Since its launch in 1998, more than 10 million
prescriptions have been written for Evista in the United States alone.
Evista is not for everyone. If you are or still can become pregnant, are
nursing, have severe liver problems, or have had blood clots that required a
doctor's treatment, you should not take Evista. An infrequent but serious side
effect of Evista is blood clots in the veins--being immobile for a long time may
add to the risk. The most commonly reported side effects were hot flashes and
leg cramps. Side effects with Evista have usually been mild, and most women
didn't find them serious enough to stop taking it.
You may be at increased risk for osteoporosis if you are Caucasian (white) or
Asian, have a slender build, don't exercise, or have a family history of the
disease. If you don't get enough calcium and/or vitamin D in your diet, you
should also take these supplements. For Information for the Patient for Evista,
visit http://www.evista.com/about_patient_info.html. For detailed information
about Evista, visit Lilly's website at http://www.evista.com.
About PDI
PDI is an innovative sales and marketing company serving the pharmaceutical,
biotech, and medical devices and diagnostics industries. Partnering with
clients, PDI provides product-specific plans designed to maximize profitability
throughout a product's lifecycle, from pre-
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launch through maturity. With proven industry experience and more than 5,000
sales and marketing professionals, PDI has the demonstrated ability to deliver
results.
PDI is recognized as an industry-leader based on its track record of innovation
and its ability to keep pace in a rapidly changing industry. PDI leverages its
expertise in sales, brand management and product marketing, marketing research,
medical education, medical affairs, and managed markets and trade relations to
create solutions that meet strategic objectives and provide incremental value
for product sales. For more information, visit PDI's website at www.pdi-inc.com.
About Eli Lilly and Company
Lilly, a leading innovation-driven corporation, is developing a growing
portfolio of best-in-class pharmaceutical products by applying the latest
research from its own worldwide laboratories and from collaborations with
eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly
provides answers - through medicines and information - for some of the world's
most urgent medical needs. Additional information about Lilly is available at
www.lilly.com.
This press release contains forward-looking statements involving risks and
uncertainties that may cause actual results to differ materially from those
indicated due to a number of factors, including changes in the market for Evista
and potential results of PDI's promotional effort. PDI's plans and objectives
are based on assumptions involving judgments with respect to future economic,
competitive, regulatory and market conditions and future business decisions, all
of which are difficult or impossible to predict accurately and many of which are
beyond PDI's control. Therefore, there can be no assurance that the
forward-looking statement will prove to be accurate. PDI's documents filed with
the SEC identify important factors that may cause the actual results to differ
materially from those indicated by the forward-looking statements."
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PDI, INC.
By: /s/ Charles T. Saldarini
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Charles T. Saldarini, Vice Chairman
and Chief Executive Officer
Date: October 3, 2001
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