Pharmaceutical Product Development

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Pharmaceutical Product Development, LLC.
Private
IndustryContract research organizations
Pharmaceutical
Biotechnology
Founded1985
HeadquartersWilmington, North Carolina, United States
Key people
See Senior Leadership Team page of the PPD Website[1]
ProductsContract clinical research for pharmaceutical, biotechnology, medical device, academic and government organizations; services include drug development, laboratory and lifecycle management.
Number of employees
23,000 (2019)
Websitewww.ppdi.com

Pharmaceutical Product Development, LLC (PPD) is a global contract research organization (CRO) providing comprehensive, integrated drug development, laboratory and lifecycle management services.

History[edit]

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.
  • Jan. 1989: The company incorporates in North Carolina.
  • Jan. 1996: PPD issues its initial public stock offering and begins trading on the Nasdaq National Market System under the symbol PPDI.
  • Oct. 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.[2]
  • Jan. 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.[3]
  • May 2011: David Grange retires as chief executive officer of PPD.[4]
  • Sept. 2011: PPD’s board of directors names Raymond Hill as PPD’s new chief executive officer.[5]
  • Dec. 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.[6]
  • May 2012: PPD’s board of directors names David Simmons as chairman and CEO.[7]
  • Aug. 2013: PPD acquires Acurian.[8]
  • Dec. 2014: PPD announces an agreement with SNBL to form a joint venture to provide full range of clinical development services in Japan.[9]
  • 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.
  • Sept. 2016: PPD acquires Evidera.[10]
  • 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.[11]
  • July 2018: PPD flips the patient enrollment model and launches new site solution.[12]
  • July 2018: Synexus Announces U.S.-Based Registry to Power Major Longitudinal Study on Brain Aging.[13]
  • February, 2019: PPD inks deal with China’s HLT to create data science-driven research solutions.[14]
  • May, 2019: PPD’s Evidera acquires RWE provider Medimix.[15]
  • Sept. 2019: PPD’s Accelerated Enrollment Solutions Acquires Global Site Business from Bioclinica.[16]

Location[edit]

PPD maintains its headquarters in Wilmington, N.C. The company has approximately 23,000 employees and offices in 46 countries.

References[edit]

  1. ^ "Senior Leadership Team". Retrieved 12 June 2018.
  2. ^ Wayne Faulkner (May 19, 2009). "David Grange named CEO of PPD; Eshelman named executive chairman". Wilmington StarNews.
  3. ^ "PPD and Furiex Announce Completion of Spin-off". Retrieved 12 June 2018.
  4. ^ Wayne Faulkner (May 20, 2011). "David Grange retires as CEO of PPD". Wilmington StarNews.
  5. ^ "PPD appoints Raymond Hill as chief executive officer and member of the board of directors". 12 June 2018.
  6. ^ Peter Lattman (October 3, 2011). "Buyout Firms to Buy Drug Research Company for $3.9 Billion". New York Times.
  7. ^ William Faulkner (May 23, 2012). "PPD names new CEO". Wilmington StarNews.
  8. ^ "PPD Acquires Acurian, Industry Leader in Patient Recruitment and Retention". August 27, 2013.
  9. ^ John Murawski (December 24, 2014). "PPD enters into joint venture with Japanese company". The News & Observer.
  10. ^ Ben Adams (September 8, 2016). "PPD ties off Evidera merger deal, establishes 'real world research' leader". FierceBiotech.
  11. ^ PPD (April 26, 2017). "PPD to Recapitalize with Existing Owners and Investors".
  12. ^ Melissa Fassbender (July 2, 2018). "PPD flips the patient enrollment model and launches new site solution".
  13. ^ PPD (July 23, 2018). "Synexus Announces U.S.-Based Registry to Power Major Longitudinal Study on Brain Aging".
  14. ^ Joseph Keenan (February 28, 2019). "PPD inks deal with China's HLT to create data science-driven research solutions". FierceBiotech.
  15. ^ Melissa Fassbender (May 30, 2019). "PPD's Evidera acquires RWE provider Medimix". Outsourcing-Pharma.
  16. ^ PPD (September 5, 2019). "PPD's Accelerated Enrollment Solutions Acquires Global Site Business from Bioclinica".

External links[edit]