US-based contract research organisation INC Research Holdings and contract commercial organisation inVentiv Health are set to merge to form the world’s second biggest biopharmaceutical outsourcing provider.

The two businesses will be combined in an all-stock transaction based on the closing price of INC Research’s stock on 9 May.

The enterprise value of INC Research and inVentiv are $2.8bn and $4.6bn respectively, making the enterprise value of the combined company $7.4bn.

"WIRB-Copernicus Group (WCB) has completed the acquisition of two companies, namely MedAvante and ProPhase."

INC Research’s shareholders will own roughly 53% of the combined company, while inVentive shareholders will hold 47% on a fully diluted basis.

WIRB-Copernicus Group (WCB) has completed the acquisition of two companies, namely MedAvante and ProPhase.

WCB is a US-based clinical research solutions provider, while MedAvante provides technology-enabled signal detection solutions and ProPhase provides solutions related to measurement.

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Both target companies are also based in the US.