PPD acquires European clinical research organization
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Pharmaceutical Product Development (Nasdaq: PPDI) is expanding its presence in Europe with the acquisition of AbCRO, a clinical research organization.
The firm offers clinical services for Phase II-IV clinical trials in Romania, Bulgaria, Serbia and Croatia.
Financial terms were not disclosed.
PPD already has operations facilities in Poland, Russia and Ukraine.
AbCRO, a nine-year-old company, employs some 230 people.
“Under the leadership of Dana A. Leff and Christa Pleasants, AbCRO has built a strong, regional clinical research business and established a solid reputation in the region,” said Fred Eshelman, PPD’s chief executive officer. “This acquisition will strengthen our foothold in Central and Eastern Europe and enhance our ability to conduct global trials for our clients. We see many synergies with AbCRO and anticipate a relatively seamless integration, with many of the AbCRO employees already well-versed on basic PPD procedures and systems."
Leff will direct PPD’s Central and Eastern European operations.
Pleasants, who co-founded AbCRO along with Leff, will join PPD in the United Kingdom as a senior director.
PPD operates in 33 countries and has more than 10,000 employees.
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