PPD

Pharma

PPD names Pfizer executive David Simmons its new CEO

Clinical research organization PPD has hired a Pfizer (NYSE:PFE) veteran to become its new CEO. David Simmons brings 15 years experience at the world’s largest pharmaceutical company to PPD, which is one of the largest CROs in the pharmaceutical services industry. The CEO post became vacant after PPD was taken private in a $3.9 billion […]

Hospitals

PPD partners with Scottish health officials on clinical trials initiative

PPD routinely strikes strategic partnerships with pharmaceutical companies. But the clinical research organization has entered a different kind of partnership in Scotland with the goal of  streamlining the clinical trials process and speeding the regulatory process for new therapies. Wilmington, North Carolina-based PPD has entered an alliance with the National Health Services’s Research Scotland (NRS), […]

Pharma

3 months and $3 million later, Ray Hill leaves PPD

$3 million is not bad for three months work. PPD CEO Ray Hill has stepped down from the clinical research organization a week after PPD’s acquisition by The Carlyle Group and Hellman & Friedman was finalized. He departs with a $3 million severance package for running the company since September. But it could have been […]

News

PPD’s $3.9B acquisition by Carlyle, H&F completed

The Carlyle Group and Hellman & Friedman have completed their $3.9 billion acquisition of PPD (NYSE:PPDI). The private equity firms announced the completion of the all-cash deal for the clinical research organization today. The close follows an approval vote from shareholders last week. At the Nov. 30 shareholders meeting at PPD’s Wilmington, North Carolina headquarters, […]

News

PPDI shareholders approve $3.9B sale, $21M in golden parachutes

PPD (NYSE:PPDI), among the largest clinical research organizations in the industry, is on its way to becoming a private company. Shareholders voted to approve the $3.9 billion sale of the Wilmington, North Carolina-based CRO to private equity firms The Carlyle Group and Hellman & Friedman. PPD said that more than 96 percent of shares voting […]

News

PPD’s ‘go-shop’ process turns up no other bids for the CRO

PPD (NYSE:PPDI) will have no other acquirers trying to top the $3.9 billion bid for the clinical research organization from private equity firms The Carlyle Group and Hellman & Friedman. Just one party entered into the same confidentiality agreements that Carlyle and H&F agreed to in order to begin acquisition talks with the CRO. But […]

News

PPD’s sale to private equity: How the CRO M&A deal got done

Days before PPD‘s (NYSE:PPDI) $3.9 billion sale to private equity was announced on October 3, the clinical research organization’s lead independent director, Ernest Mario, was busy trading e-mails and phone calls with The Carlyle Group in an effort to improve what had become a substantially reduced offer. Carlyle and Hellman & Friedman, the other private […]

News

PPD’s new CEO Hill ‘sticking around’ after private equity sale

PPD‘s (NYSE:PPDI) $3.9 billion sale to The Carlyle Group and Hellman & Friedman offered shareholders of the clinical research organization a nearly 30 percent premium over the company’s closing stock price before the private equity deal was announced. But www.footnoted.com, a unit of Morningstar that looks for hidden items buried in securities filings, suggested that […]

News

PPD’s $3.9B sale to private equity and prospects for more CRO deals

PPD‘s (NYSE:PPDI) founder and former CEO Fred Eshelman launched Pharmaceutical Product Development out of his Maryland home in 1985. Twenty six years later, the company Eshelman started as a one-man consultancy is set to be sold for just shy of $4 billion. Wilmington, North Carolina clinical research organization PPD announced today private equity firms The […]

News

PPDI acquired by two private equity firms in $3.9B cash deal

North Carolina clinical research organization PPD (NYSE:PPDI) will be acquired by two private equity firms in a $3.9 billion cash deal that will take the CRO private. PPD announced the definitive merger agreement with The Carlyle Group and Hellman & Friedman Monday. The sale price comes to $33.25 per share, a 29.6 percent premium over […]