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Following the transaction, Excel will become a wholly-owned subsidiary of PPD.
The transaction is expected to close in the fourth quarter of 2009.
Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2009-10-27
Deal Participants
Target (Company) Excel PharmaStudies, Inc. Acquirer (Company) Pharmaceutical Product Development, Inc.
Deal Rationale
The transaction will provide PPD an additional capacity and expertise in this growing market and will increase its client base in Asia Pacific. The acquisition will strengthen PPD's ability to offer Phase II-IV clinical, data management, biostatistics, regulatory and quality assurance services. BY combining Excel's drug development expertise with its global central laboratory operations in Beijing and Singapore will position PPD to deliver a broad set of services to biopharmaceutical companies in China, Japan and throughout the Asia Pacific region.
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