Cognizant (NASDAQ: CTSH), a leading provider of consulting, technology and business process outsourcing services, today announced a five-year agreement with AstraZeneca to provide application maintenance services to AstraZeneca's global enterprise in the business-critical areas of research, clinical development, and sales and marketing. The agreement will further expand Cognizant's long-standing relationship with the pharmaceutical major.
Under the expanded agreement, Cognizant will work with AstraZeneca's Global Shared Services organization and implement world class, end-to-end application maintenance services. As part of this innovative agreement, Cognizant will adopt an "Outcome" or "Effect-based" model to provide these services by leveraging its global delivery network, talent pool and best practices. This will ensure a predictable service model, reduce the overall cost of IT ownership, and deliver year-over-year efficiency improvements.
"Our strategic partnerships will enable us to streamline operations efficiency, raise standards and deliver world-class services. The selection of Cognizant will allow us to leverage their global operations to meet the needs of our business and increase our focus on our core business -- to make the most meaningful difference to patient health through great medicines," said Richard Williams, Global CIO at AstraZeneca.
"We are pleased to have been selected by AstraZeneca's global shared services organization to provide application-related services," said Francisco D'Souza, President and CEO of Cognizant. "We look forward to helping AstraZeneca identify and deploy operational improvements in its applications process that will enhance R&D and sales and marketing efficiencies, and help strengthen and extend the company's leadership status in the global life sciences industry."
About Cognizant's Healthcare and Life Sciences Practice
Cognizant's Healthcare and Life Sciences practice is committed to helping change billions of lives for the better by partnering with our customers to build solutions to healthcare challenges, continually improve the way they do business, set the pace in clinical development, strengthen their regulatory infrastructure, and increase competitiveness.
Consistently ranked among the Healthcare Informatics Top 100 list for the past three years, we have worked with 6 of the top 10 health plans in the U.S.A., 27 of the top 30 global pharmaceutical companies, 9 of the top 10 biotech companies, and 2 of the top 5 medical device companies.
With over 10,000 dedicated professionals including doctors, pharmacologists, physicians, biomedical engineers, pharmacists, biostatisticians, medical writers, and GxP consultants, we provide domain-aligned consulting, IT, business process and analytics solutions globally.
AstraZeneca is a major international healthcare business engaged in research, development, manufacturing and marketing of prescription pharmaceuticals and supplier for healthcare services. AstraZeneca is one of the world's leading pharmaceutical companies with healthcare sales of US $29.55 billion and is a leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection product sales. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4Good Index. For more information, visit www.astrazeneca.com.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting and business process outsourcing services. Cognizant's single-minded passion is to dedicate our global technology and innovation know-how, our industry expertise and worldwide resources to working together with clients to make their businesses stronger. With more than 40 global delivery centers and over 59,000 employees as of June 30, 2008, we combine a unique onsite/offshore delivery model infused by a distinct culture of customer satisfaction. A member of the NASDAQ-100 Index and S&P 500 Index, Cognizant is a Forbes Global 2000 company and a member of the Fortune 1000 and is ranked among the top information technology companies in BusinessWeek's Hot Growth and Top 50 Performers listings. Visit us online at www.cognizant.com
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
First Call Analyst:
FCMN Contact: firstname.lastname@example.org
CONTACT: Alan Alper, Corporate Marketing and Communications, Cognizant,