Nov 7 2009
PPD, Inc. (Nasdaq: PPDI) today announced it has completed its acquisition of Excel PharmaStudies, Inc., the market leader and one of the largest contract research organizations in China. The acquisition strengthens PPD’s full range of drug development services in the country and positions it to capitalize on the tremendous growth of the outsourcing market in Asia Pacific.
The acquisition significantly increases PPD’s employee and client base in the region. Excel has more than 300 employees in China, and PPD now employs more than 750 professionals in Asia Pacific.
With this acquisition, PPD has expanded its capability to offer Phase II-IV clinical management, data management, biostatistics, regulatory and quality assurance services under a variety of operating models, ranging from functional to full service. This combination of Excel and PPD creates one of the largest CROs operating in China, a country that offers vast populations of potential patients, fast patient recruitment and large centralized hospitals. Excel will continue to operate under its brand with full access to PPD’s global resources, clients and expertise.
"China is a strong, emerging area for clinical research as evidenced by its 21 percent compounded annual growth rate over the past five years," said David Grange, chief executive officer of PPD. "Excel brings an expansive range of services, broad client base and deep regulatory experience, which provide PPD additional capacity and expertise in this growing region.” Grange added, “We look forward to sharing more about our expanded presence in Asia Pacific at the CHINATRIALS conference next week.”
PPD is the platinum sponsor at CHINATRIALS 2009, the largest clinical development event in China, being held November 8-10 in Beijing. Simon Britton, PPD’s vice president of clinical development for Asia Pacific, will present at the conference on creating the best clinical strategy for China and East Asia. His presentation is Tuesday, Nov. 10, at 11:10 a.m. UCT.
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