Thermo Fisher Scientific has acquired PPD for $47.50 per share for a total purchase of $17.4 billion-plus the hypothesis of roughly $3.5 billion of net debt.
PPD, a leader in the expanding $50 billion clinical research services industry, provides a wide range of laboratory and clinical research services to allow customers to improve drug development productivity and stimulate innovation. Furthermore, PPD has over 26,000 colleagues working in almost 50 nations.
“Thermo Fisher Scientific has acquired PPD for $17.4 billion.“
President, CEO and Chairman 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, 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."