PPD Acquires Excel PharmaStudies (NASDAQ:PPDI)
PPD or Pharmaceutical Product Development, Inc (NASDAQ:PPDI) today announced that they have completed their acquisition of Excel PharmaStudies Inc which is considered to be the market leader and one of the largest contract research organizations in China. The Company said that the acquisition will strengthen PPD’s full range of drug development services in the country and will help them to capitalize on the tremendous growth of the outsourcing market in Asia Pacific region. The Company is also a global contract research organization that is engaged in the drug discovery and development services.
Pharmaceutical Product Development said that this acquisition will help them increase their employees in the Asia Pacific region as Excel PharmaStudies already have more than 300 employees in China and PPD currently employs around 750 employees in the Asia Pacific region. CEO of PPD, David Grange said that China is a strong, emerging area for clinical research as evidenced by its 21 percent annual growth rate over the past five years and that Excel PharmaStudies brings them an expansive range of services, broad client base and deep regulatory experience that will help PPD to grow its capacity and research expertise in Asia Pacific region.
Also with this acquisition PPD has expanded its capability to offer Phase 2-4 clinical management, database management, biostatistics and regulatory and quality assurance services under a variety of operating models that range from functional to full service models. Together, PPD and Excel PharmaStudies will become one of the largest CROs operating in China which can offer a vast population of potential patients, fast patient recruitment and large centralized hospitals. However, as per the acquisition agreement, Excel PharmaStudies will continue to operate under its brand with full access to PPD’s global resources, clients and expertise and look for expanding their presence in the Asia Pacific.
Tags: PPDI
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