WRAL Tech Wire

Raleigh-based INC Research tops life science service firm survey

The study by Cary-based Industry Standard Research is possibly the most comprehensive measure of what pharmaceutical companies think about contract research organizations.

Drug partnerships: Not all positive, not all negative

Pozen CEO says there are lessons to be learned from its past partnership deals as the Chapel Hill firm seeks another one.

Pozen CEO John Platchetka

Life science service sector to rebound, report says

"We expect growth in the CRO industry to continue accelerating into 2012 and the rise of the strategic partnership model should concentrate these benefits in the hands of a select group of narrow-moat providers," says a Morningstar analyst.

What's on shopping list for CROs in the new year?

Partners, M&A possibilities, sites in Asia, private equity investments and more consulting expertise are appealing items on the want lists for contract research organizations.

PPD CEO steps down; founder Eshelman remains a senior advisor

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.

Private equity firms close on $3.9B PPD deal

The private equity firms announced the completion of the all-cash deal for the clinical research organization Monday. The close follows an approval vote from shareholders last week.

PPD deal includes $21M in 'golden parachutes' for top execs

Even as shareholders approve the $3.9 billion sale of the contract research organization to private equity groups, the future role of PPD management remains unclear.

Fred Eshelman

PPD shareholders vote decisively to approve $3.9B sale

The Wilmington-based contract research organization is set to be taken over by The Carlyle Group and Hellman & Friedman.

It's decision day for PPD shareholders on $3.9B sale

The Wilmington-based contract research organization has scheduled a meeting for shareholders to vote whether to approve the sale to private equity firms The Carlyle Group and Hellman & Friedman. Online and telephone voting closed Tuesday night.

Life science awards go to PPD, Novartis, Steve Burrill

Scrips, an international life science media and related services firm based in the U.K., honors PPD with two awards, Novartis with three, and names Burrill its lifetime achievement winner.

'Go shop' is over for PPD; $3.9B deal goes to shareholders

The life sciences services firm says it failed to find any "alternative acquisition" offers during a 30-day period in which it sought a better deal than the one made with Carlyle Group.

PPD fails to find a better offer than $3.9B

The Wilmington-based life science services firm entered into an agreement to sell the company to Carlyle and H&F for $3.9 billion on oct. 2 and didn't get a better offer in "go shop" effort.

PPD's private equity deal - How the deal got done

There's a slim chance another bidder could eclipse the $33.25 offer that was ultimately reached. The sale agreement includes a "go shop" provision that allows PPD to consider higher bids if submitted within 30 days of the October 2 merger agreement. Morgan Stanley has contacted a total of 22 parties: nine companies and 13 financial entities.

Will PPD's new top exec stay onboard after $3.9B sale?

If Ray Hill is on his way out, the CRO has made no such indications. In the proxy statement filed with the SEC, the company includes a letter from PPD founder and Chairman Fred Eshelman distributed to all employees. In the letter, Eshelman said: "Nothing will change in our day-to-day operations as a result of this transaction. Our management team is working closely together to ensure the company remains focused on our current objectives and strategy. We believe the experience and leadership skills of our senior management team, including CEO Ray Hill, and all of our employees will add great value as we navigate through this transition."

Pozen shifts gears in seeking drug development partner

"It really comes down to how we can maximize the asset," Chief Commercial Officer Liz Cermak said in a conference call with analysts. "We're a little company with a limited amount of resources."