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DURHAM, NC (AP) — Clinical testing company Quintiles Transnational is taking executives and guests to the New York Stock Exchange to ring the bell marking the opening of the trading day.

Friday’s event marks the second day of shares in the Durham-based company trading on the stock market after an initial public offering. Quintiles started public sales of its stock on Thursday, hitting the market at $40 per share and ending the day at $42.11, a five percent increase.

The company will receive nearly $500 million.

Quintiles calls itself the world’s largest contract research company helping large pharmaceutical companies test and sell drugs.

The company founded in 1982 by biostatistics professor Dennis Gillings became a public company in 1994. Gillings and others bought out stockholders to take Quintiles private again in 2003.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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