11.30.09
PPD, Inc. has completed its acquisition of BioDuro LLC, a drug discovery outsourcing company focused on integrated drug discovery programs and services. As a result, PPD now employs more than 1,400 people in Asia Pacific and nearly 1,000 people in China, making it the largest CRO to offer clinical development and discovery services in that country, according to a PPD statement.
"Our acquisition of BioDuro positions us to capitalize on the tremendous growth in Asia Pacific and to become the CRO of choice in China," said David Grange, chief executive officer of PPD. "BioDuro has a premier reputation for delivering quality service and has built an exceptional team of researchers and scientists. We are very pleased to welcome BioDuro's 660 employees into PPD."
Founded in 2005, BioDuro operates a state-of-the-art, 110,000-sq.-ft. laboratory in Beijing. With the vast majority of its employees based in China, the company focuses on providing fully integrated programs to synthesize and optimize novel compounds to generate drug development candidates. PPD paid approximately $77 million in cash to acquire BioDuro.
PPD also recently acquired Excel PharmaStudies, one of the largest CROs in China, expanding PPD's Phase II-IV clinical, data management, biostatistics, regulatory and quality assurance services in that rapidly growing market.
"Our acquisition of BioDuro positions us to capitalize on the tremendous growth in Asia Pacific and to become the CRO of choice in China," said David Grange, chief executive officer of PPD. "BioDuro has a premier reputation for delivering quality service and has built an exceptional team of researchers and scientists. We are very pleased to welcome BioDuro's 660 employees into PPD."
Founded in 2005, BioDuro operates a state-of-the-art, 110,000-sq.-ft. laboratory in Beijing. With the vast majority of its employees based in China, the company focuses on providing fully integrated programs to synthesize and optimize novel compounds to generate drug development candidates. PPD paid approximately $77 million in cash to acquire BioDuro.
PPD also recently acquired Excel PharmaStudies, one of the largest CROs in China, expanding PPD's Phase II-IV clinical, data management, biostatistics, regulatory and quality assurance services in that rapidly growing market.