PPD

Founded by Fred Eshelman, the PPD contract research organization provides comprehensive drug development services, regulatory and scientific support, as well as infrastructure and personnel support, which provides PPD customers with the ability to flexibly manage their business or provide a fully outsourced solution. PPD serves more than 50 of the world's leading biopharmaceutical companies. At the beginning of December 2021, the company has more than 26,000 employees working in 50 countries, in 2020 the company's revenue amounted to $4.7 billion.

History

2021: Thermo Fisher bought PPD for $17.4 billion

In early December 2021, Thermo Fisher bought the drug developer PPD. The deal amounted to $17.4 billion. As part of the deal, PPD ceased trading on Nasdaq, the company will become part of the Thermo Fisher laboratory products and services segment.

Thermo Fisher acquired PPD for $17.4 billion

The board of directors of Thermo Fisher and PPD approved the final agreement back in April 2021, under which it was determined that Thermo Fisher would buy PPD at $47.50 per share for a total of $17.4 billion plus estimated net debt of about $3.5 billion. The Thermo Fisher and PPD deal is expected to generate $1.50 in adjusted Thermo Fisher earnings per share in 2022.

We are very pleased to officially welcome our colleagues from PPD to Thermo Fisher Scientific, "said Mark N. Casper, Chairman, President and Chief Executive Officer of Thermo Fisher, in a press release. - Expanding our value proposition for our biotechnology and pharmaceutical clients by adding leading clinical research services PPD advances our work to bring life-changing therapies to market, benefiting patients worldwide.[1]

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