Thermo Fisher Scientific has recently stated that they will acquire PPD for $47.50 per share, for a total purchase price of $17.4 billion in cash, plus the assumption of an estimated $3.5 billion of net debt.
PPD provides a wide range of laboratory services and clinical research to allow customers to stimulate innovation and increase drug development productivity.
“Thermo Fisher Scientific will acquire PPD.“
Chairman, president and CEO of Thermo Fisher Scientific, Marc N. Casper, stated: "Pharma and Biotech is our largest and fastest growing end market and our customers value us as a strategic partner and an industry leader. The acquisition of PPD is a natural extension for Thermo Fisher and will enable us to provide these customers with important clinical research services and partner with them in new and exciting ways as they move a scientific idea to an approved medicine quickly, reliably and cost-effectively. Longer-term, we plan to continue to invest in and connect the capabilities across the combined company to further help our customers accelerate innovation and drive productivity while driving further value for our shareholders."
Chairman and CEO of PPD, David Simmons, stated: "This is a very exciting announcement for our shareholders and will provide customers with an even better opportunity to bring meaningful innovation to the market faster and more efficiently. Thermo Fisher is a world-class company with a very similar culture and values and will provide a great foundation for our colleagues to continue to deliver for our customers and to develop their own skills and careers."