Thermo Fisher Scientific Completes Acquisition of PPD, Inc.
Thermo Fisher Scientific Inc., the world leader in serving science announced that it has completed its acquisition of PPD, Inc., a leading global provider of clinical research services to the biopharma and biotech industry, for $17.4 billion.
Marc N. Casper, Chairman, President and Chief Executive Officer of Thermo Fisher Scientific said, “We are very excited to officially welcome our PPD colleagues to Thermo Fisher Scientific. Expanding our value proposition for our biotech and pharmaceutical customers with the addition of PPD’s leading clinical research services advances our work in bringing life-changing therapies to market, benefiting patients around the world.”
In connection with the acquisition, Thermo Fisher will also assume approximately $3.0 billion in net debt of PPD where all assumed debt will be retired in connection with the closing of the transaction.
Thermo Fisher will offer a comprehensive suite of world-class services across the clinical development spectrum − from scientific discovery, to assessing safety, efficacy, and health care outcomes, to managing clinical trial logistics, to the development and manufacturing of the drug product with the acquisition of PPD.