PPD, Inc. explained
Pharmaceutical Product Development (PPD) is a global contract research organization (CRO) providing comprehensive, integrated drug development, laboratory and lifecycle management services. In December 2021, PPD became a wholly owned subsidiary of Thermo Fisher Scientific.
History
PPD was founded by Fred Eshelman, Pharm.D., as a one-person consulting firm in 1985. The following year, he expanded the company's scope to include development services and relocated operations from Maryland to North Carolina.
- July 1985: Fred Eshelman, Pharm.D., founds PPD as a one-person consulting firm based in his home in Maryland.
- 1986: Eshelman expands the company and relocates operations to Wilmington, North Carolina.
- January 1989: The company incorporates in North Carolina.
- January 1996: PPD issues its initial public stock offering and begins trading on the Nasdaq National Market System under the symbol PPDI.
- October 2005: PPD's board of directors adopts an annual cash dividend policy.
- July 2009: The company promotes Eshelman to executive chairman and names David Grange chief executive officer.[3]
- January 2010: The company commemorates the 25th anniversary of its founding.
- June 2010: PPD spins off its compound partnering division as a new and independent publicly traded company, Furiex Pharmaceuticals.[4]
- May 2011: David Grange retires as chief executive officer of PPD.[5]
- September 2011: PPD's board of directors names Raymond Hill as PPD's new chief executive officer.[6]
- December 2011: The company is acquired by affiliates of The Carlyle Group and affiliates of Hellman & Friedman in an all-cash transaction valued at approximately $3.9 billion.[7]
- May 2012: PPD's board of directors names David Simmons as chairman and CEO.[8]
- August 2013: PPD acquires Acurian.[9]
- December 2014: PPD announces an agreement with SNBL to form a joint venture to provide full range of clinical development services in Japan.[10]
- May 2015: PPD expands network of U.S.-based research sites via strategic relationship with Radiant.
- June 2016: PPD expands network of global research sites via strategic relationship with Synexus.
- September 2016: PPD acquires Evidera.[11]
- April 2017: Hellman & Friedman and affiliates of The Carlyle Group enter into definitive agreements to recapitalize PPD and expand the company's ownership to include two new investors, a subsidiary of the Abu Dhabi Investment Authority and an affiliate of GIC Private Limited, Singapore's sovereign wealth fund.[12]
- July 2018: PPD launches new site solution.[13]
- July 2018: Synexus announces U.S.-based registry to power major longitudinal study on brain aging.[14]
- February 2019: PPD inks deal with China's HLT to create data science-driven research solutions.[15]
- May 2019: PPD's Evidera acquires RWE provider Medimix.[16]
- September 2019: PPD's Accelerated Enrollment Solutions acquires global site business from Bioclinica.[17]
- February 2020: PPD issues its initial public stock offering and begins trading on the Nasdaq Global Select Market under the symbol PPD.[18]
- April 2021: Thermo Fisher Scientific announces plans to acquire PPD.[19]
- December 2021: Thermo Fisher Scientific completes the acquisition of PPD.[20]
Location
PPD has its headquarters in Wilmington, North Carolina. The company has more than 27,000 employees. As of December 2021, PPD became a wholly owned subsidiary of Thermo Fisher Scientific, based in Waltham, Massachusetts.
Notes and References
- Web site: Senior Leadership Team . 11 May 2021.
- https://www.macrotrends.net/stocks/charts/PPD/ppd/revenue
- News: David Grange named CEO of PPD; Eshelman named executive chairman. . Wayne Faulkner . Wilmington StarNews . May 19, 2009.
- Web site: PPD and Furiex Announce Completion of Spin-off . 12 June 2018.
- News: David Grange retires as CEO of PPD . Wayne Faulkner . Wilmington StarNews . May 20, 2011.
- Web site: PPD appoints Raymond Hill as chief executive officer and member of the board of directors.. 12 June 2018.
- News: Buyout Firms to Buy Drug Research Company for $3.9 Billion . Peter Lattman . New York Times . October 3, 2011.
- News: PPD names new CEO . William Faulkner . Wilmington StarNews . May 23, 2012.
- Web site: PPD Acquires Acurian, Industry Leader in Patient Recruitment and Retention . . August 27, 2013.
- News: PPD enters into joint venture with Japanese company . John Murawski . The News & Observer . December 24, 2014.
- Web site: PPD ties off Evidera merger deal, establishes 'real world research' leader . Ben Adams . September 8, 2016 . FierceBiotech.
- Web site: PPD to Recapitalize with Existing Owners and Investors . PPD . April 26, 2017.
- Web site: PPD flips the patient enrollment model and launches new site solution . Melissa Fassbender . July 2, 2018.
- Web site: Synexus Announces U.S.-Based Registry to Power Major Longitudinal Study on Brain Aging . PPD . July 23, 2018.
- Web site: PPD inks deal with China's HLT to create data science-driven research solutions . Joseph Keenan . February 28, 2019 . FierceBiotech.
- Web site: PPD's Evidera acquires RWE provider Medimix. Melissa Fassbender . May 30, 2019 . Outsourcing-Pharma.
- Web site: PPD's Accelerated Enrollment Solutions Acquires Global Site Business from Bioclinica . PPD . September 5, 2019.
- Web site: Drug research firm PPD prices IPO at top end of target . Joshua Franklin . February 5, 2020 . Reuters.
- Web site: 2021-04-15. Thermo Fisher buying PPD in deal worth $17.4 billion. . AP News. en-US.
- Web site: 2021-12-08. Thermo Fisher Scientific Completes Acquisition of PPD, Inc. . PR newswire. en-US.
