Pharmaceutical Product Development (PPD) acquires BioDuro

Posted on: Mon, 30 Nov 2009 13:24:00 EST

Symbols: PPDI

Nov 30, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
PPDI | Quote | Chart | News | PowerRating -- Pharmaceutical Product Development, Inc. (PPD), a pharmaceutical contract research organization (CRO), has acquired BioDuro, Inc. for a cash consideration of approximately $77 million. Both the companies are based in the US.

BioDuro is a drug discovery outsourcing company focused on integrated drug discovery programs and services.

Announcement (November 18, 2009):

PPDhas signed an agreement to acquire BioDuro.

Following the completion of the transaction, PPD and BioDuro will perform range of research and development services for large pharmaceutical clients from early stage through Phase IV.

The transaction is expected to close in the fourth quarter of 2009.

Deal Value (US$ Million) 77
Deal Type                Acquisition
Sub-Category             Majority Acquisition
Deal Status              Completed: 2009-11-30

Deal Participants

Target (Company)   BioDuro, Inc.
Acquirer (Company) Pharmaceutical Product Development, Inc.

Deal Rationale

The acquisition will expand PPD's drug development capabilities in China and strengthen its ability to provide clients an extensive range of services in this country. It will also position PPD to provide services for the growing global discovery outsourcing industry and to be the full-service clinical research organization (CRO) of choice in China.

For full details on Pharmaceutical Prod Dev (PPDI) PPDI. Pharmaceutical Prod Dev (PPDI) has Short Term PowerRatings at TradingMarkets. Details on Pharmaceutical Prod Dev (PPDI) Short Term PowerRatings is available at This Link.

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