SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

RUSSELL JOHN S

(Last)

(First)

(Middle)

4709 CREEKSTONE DRIVE

SUITE 200

(Street)

DURHAM

27703

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
QUINTILES TRANSNATIONAL CORP [ QTRN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Exec VP, Gen Counsel,Corp Secr

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2003

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/25/2003		D		1,636	D	$14.5	0	D
Common Stock	09/25/2003		D		472.729	D	$14.5	0	I	by QTRN ESOP Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$38.25	09/25/2003		D			12,000	⁽¹⁾	01/01/2008	Common Stock	12,000	⁽¹⁾	0	D
Stock Option (right to buy)	$53.375	09/25/2003		D			1,440	⁽¹⁾	12/31/2008	Common Stock	1,440	⁽¹⁾	0	D
Stock Option (right to buy)	$53.375	09/25/2003		D			7,123	⁽¹⁾	12/31/2008	Common Stock	7,123	⁽¹⁾	0	D
Stock Option (right to buy)	$41.625	09/25/2003		D			5,000	⁽¹⁾	05/19/2009	Common Stock	5,000	⁽¹⁾	0	D
Stock Option (right to buy)	$42.4375	09/25/2003		D			862	⁽¹⁾	06/07/2009	Common Stock	862	⁽¹⁾	0	D
Stock Option (right to buy)	$42.4375	09/25/2003		D			2,859	⁽¹⁾	06/07/2009	Common Stock	2,859	⁽¹⁾	0	D
Stock Option (right to buy)	$35.875	09/25/2003		D			1,119	⁽¹⁾	08/15/2009	Common Stock	1,119	⁽¹⁾	0	D
Stock Option (right to buy)	$35.875	09/25/2003		D			4,036	⁽¹⁾	08/15/2009	Common Stock	4,036	⁽¹⁾	0	D
Stock Option (right to buy)	$18.9375	09/25/2003		D			19,100	⁽¹⁾	11/05/2009	Common Stock	19,100	⁽¹⁾	0	D
Stock Option (right to buy)	$22	09/25/2003		D			717	⁽¹⁾	11/15/2009	Common Stock	717	⁽¹⁾	0	D
Stock Option (right to buy)	$22	09/25/2003		D			5,484	⁽¹⁾	11/15/2009	Common Stock	5,484	⁽¹⁾	0	D
Stock Option (right to buy)	$29.9375	09/25/2003		D			3,934	⁽¹⁾	02/15/2010	Common Stock	3,934	⁽¹⁾	0	D
Stock Option (right to buy)	$29.9375	09/25/2003		D			567	⁽¹⁾	02/15/2010	Common Stock	567	⁽¹⁾	0	D
Stock Option (right to buy)	$14.375	09/25/2003		D			15,000	⁽²⁾	04/24/2010	Common Stock	15,000	⁽²⁾	0	D
Stock Option (right to buy)	$14.25	09/25/2003		D			539	⁽²⁾	04/15/2010	Common Stock	539	⁽²⁾	0	D
Stock Option (right to buy)	$13.4375	09/25/2003		D			117,398	⁽²⁾	05/04/2010	Common Stock	117,398	⁽²⁾	0	D
Stock Option (right to buy)	$13.4375	09/25/2003		D			16,788	⁽²⁾	05/04/2010	Common Stock	16,788	⁽²⁾	0	D
Stock Option (right to buy)	$18.875	09/25/2003		D			22,157	⁽¹⁾	03/31/2011	Common Stock	22,157	⁽¹⁾	0	D
Stock Option (right to buy)	$25.25	09/25/2003		D			2,456	⁽¹⁾	06/30/2011	Common Stock	2,456	⁽¹⁾	0	D
Stock Option (right to buy)	$25.25	09/25/2003		D			16,237	⁽¹⁾	06/30/2011	Common Stock	16,237	⁽¹⁾	0	D
Stock Option (right to buy)	$14.6	09/25/2003		D			28,998	⁽¹⁾	09/30/2011	Common Stock	28,998	⁽¹⁾	0	D
Stock Option (right to buy)	$16.05	09/25/2003		D			25,952	⁽¹⁾	12/31/2011	Common Stock	25,952	⁽¹⁾	0	D
Stock Option (right to buy)	$17.75	09/25/2003		D			23,522	⁽¹⁾	03/31/2012	Common Stock	23,522	⁽¹⁾	0	D
Stock Option (right to buy)	$14.2	09/25/2003		D			6,849	⁽²⁾	05/06/2012	Common Stock	6,849	⁽²⁾	0	D
Stock Option (right to buy)	$13.09	09/25/2003		D			32,078	⁽²⁾	06/15/2012	Common Stock	32,078	⁽²⁾	0	D
Stock Option (right to buy)	$9.76	09/25/2003		D			44,674	⁽²⁾	09/16/2012	Common Stock	44,674	⁽²⁾	0	D
Stock Option (right to buy)	$12.11	09/25/2003		D			35,620	⁽²⁾	12/16/2012	Common Stock	35,620	⁽²⁾	0	D
Stock Option (right to buy)	$12.27	09/25/2003		D			35,621	⁽²⁾	03/17/2013	Common Stock	35,621	⁽²⁾	0	D
Stock Option (right to buy)	$14.23	09/25/2003		D			31,604	⁽²⁾	06/16/2013	Common Stock	31,604	⁽²⁾	0	D
Stock Option (right to buy)	$14.42	09/25/2003		D			29,851	⁽²⁾	09/15/2013	Common Stock	29,851	⁽²⁾	0	D

Explanation of Responses:

1. Canceled for no consideration pursuant to the Agreement and Plan of Merger, dated April 10, 2003, as amended, by and among Quintiles, Pharma Services Holding, Inc. ("Pharma Services") and Pharma Services Acquisition Corp. (the "Merger Agreement").

2. Disposed of pursuant to the Merger Agreement in exchange for (i) 61,525.8409 shares of common stock of Pharma Services, (ii) 285 shares of preferred stock of Pharma Services and (iii) an aggregate cash payment equal to $279,110. The cash payment represents the aggregate total paid to the reporting person for all options with an exercise price less than $14.50 that were not disposed of in exchange for equity securities of Pharma Services. The cash payment for each option was derived by taking the excess, if any, of $14.50 over the per share exercise price of such option and multiplying the result by the number of shares of Quintiles common stock subject to each such option.

Remarks:

	/s/ Tammy B. Stogner By: Tammy B. Stogner, Attorney in Fact For: John S. Russell	09/29/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.