Pharmaceutical Product Development acquires Merck vaccine testing lab
Pharmaceutical Product Development is expanding its global footprint, acquiring a vaccine testing laboratory in Pennsylvania from international drug giant Merck.
Some 80 Merck employees will transfer to PPD (Nasdaq: PPDI) as part of the deal.
The companies did not disclose financial details.
PPD also agreed to form a collaborative effort with Merck for vaccine testing and assay development. Merck agreed as well to expand an existing laboratory service agreement with PPD, an international contract research organization and drug development company.
The acquisition provides PPD with additional capabilities and expertise in vaccine, biologic testing and test development, the company said.
“We believe strategic outsourcing is key to the future of R&D and represents an innovative approach to the challenges facing our pharmaceutical and biotechnology clients,” said Fred Eshelman, PPD’s chief executive officer. “This collaboration with Merck represents a unique opportunity for us to acquire leading scientific talent and state-of-the-art facilities, expand an existing relationship with a long-time client and offer a new service line to other customers in the growing vaccine market.”
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