Prime Therapeutics is a pharmacy benefit manager (PBM), which generally process prescriptions for the groups that pay for drugs, like insurance firms and negotiate with drug makers and pharmacies.
IT services major Infosys today said it signed a three-year contract with Prime Therapeutics to set up a testing centre of excellence (COE) and consolidate the delivery of its application testing services.
Prime Therapeutics is a pharmacy benefit manager (PBM), which generally process prescriptions for the groups that pay for drugs, like insurance firms and negotiate with drug makers and pharmacies.
Infosys Public Services, a US-based subsidiary of the country's second largest software services exporter, signed the contract with the PBM firm. "Prime Therapeutics will streamline and optimise its quality assurance (QA) and testing services as well as enhance its competitiveness with Infosys Public Services' expertise and world-class delivery model," Infosys said in a statement.
Prime Therapeutics also expects to expand the capabilities of its QA organisation and gain efficiencies in managing a large scale QA department, it added. As part of the contract, Infosys Public Services will consolidate and standardise Prime Therapeutics' QA and testing services, currently provided by multiple service providers.
Prime Therapeutics will be able to improve application and service quality, and reduce IT costs with Infosys Public Services' range of QA and testing frameworks, techniques, tools and accelerators, Infosys said. "The rapidly evolving health care industry demands faster response and improved information technology quality to ensure Prime Therapeutics' competitiveness," Prime Therapeutics VP (Application Development) Jim Graham said.
"Transforming our testing and QA services will help us achieve that and better meet the needs of health plans, employers, and government programs," he added.
Infosys stock price
On March 26, 2014, Infosys closed at Rs 3244.65, down Rs 6.95, or 0.21 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2190.00.
The company's trailing 12-month (TTM) EPS was at Rs 142.80 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 22.72. The latest book value of the company is Rs 627.95 per share. At current value, the price-to-book value of the company is 5.17.
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