PPD agrees acquisition of BioDuro
PPDI | Quote | Chart | News | PowerRating -- Contract research organisation Pharmaceutical Product Development Inc
(PPD) (NASDAQ:PPDI) reported on Wednesday that it has entered into an
agreement to acquire drug discovery outsourcing company BioDuro LLC.
Financial details of the agreement were not disclosed.
This acquisition will expand PPD's drug development capabilities in
China, the company said.
BioDuro operates a 110,000-square-foot laboratory in Beijing and it
provides scientific expertise in medicinal chemistry, biology,
pharmacology, drug metabolism, pharmacokinetic and safety services.
The acquisition is expected to be completed in the fourth quarter of
2009.
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