PPD, Inc.

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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.[1]
  • 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.[2]
  • May 2011: David Grange retires as chief executive officer of PPD.[3]
  • September 2011: PPD's board of directors names Raymond Hill as PPD's new chief executive officer.[4]
  • 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.[5]
  • May 2012: PPD's board of directors names David Simmons as chairman and CEO.[6]
  • August 2013: PPD acquires Acurian.[7]
  • December 2014: PPD announces an agreement with SNBL to form a joint venture to provide full range of clinical development services in Japan.[8]
  • 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.[9]
  • 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.[10]
  • July 2018: PPD launches new site solution.[11]
  • July 2018: Synexus announces U.S.-based registry to power major longitudinal study on brain aging.[12]
  • February 2019: PPD inks deal with China's HLT to create data science-driven research solutions.[13]
  • May 2019: PPD's Evidera acquires RWE provider Medimix.[14]
  • September 2019: PPD's Accelerated Enrollment Solutions acquires global site business from Bioclinica.[15]
  • February 2020: PPD issues its initial public stock offering and begins trading on the Nasdaq Global Select Market under the symbol PPD.[16]
  • April 2021: Thermo Fisher Scientific announces plans to acquire PPD for $17.4 billion.[17]
  • December 2021: Thermo Fisher Scientific completes the acquisition of PPD.[18]

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.

References

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External links

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Template:Contract research organization Template:Pharmaceutical companies of the United States

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