Published on October 28, 2009 at 1:03 AM
PPD, Inc. (Nasdaq: PPDI) today announced it has entered into an agreement to acquire Excel PharmaStudies, Inc., the market leader and one of the largest contract research organizations in China, providing PPD additional capacity and expertise in this rapidly growing market. It also significantly increases its employee and client base in Asia Pacific.
The acquisition strengthens PPD’s ability to offer Phase II–IV clinical, data management, biostatistics, regulatory and quality assurance services under a variety of operating models, ranging from functional to full service. Combining its drug development expertise with its global central laboratory operations in Beijing and Singapore uniquely positions PPD to deliver a broad set of services to biopharmaceutical companies in China, Japan and throughout the region. Excel will operate as a wholly-owned subsidiary of PPD.
“Biopharmaceutical companies are increasingly including China and Japan in their drug development programs because of the rapid growth of these markets,” said David Grange, chief executive officer, PPD. “Excel brings a solid reputation, broad client base and regulatory expertise and is an important part of our continued expansion in this fast-growing region.”
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