Pharmaceutical Product Development is adding to its life science product development capabilities with the acquisition of a Maryland firm that studies biopharmaceutical’s effectiveness.
Wilmington-based PPD announced its deal for Maryland-based Evidera on Tuesday.
Evidera has some 300 researchers and scientists. It operates eight offices across several countries.
Financial terms were not disclosed.
Both firms are privately held.
Evidera was formed by private equity firm Symphony Technology Group in 2013.
PPD, which has a large operation in the Triangle, is a contract research organization working with life science clients to tese and evaluate products.
“Our acquisition of Evidera demonstrates PPD’s commitment to strategic investments that enable our clients to advance the generation of real-world evidence to more efficiently deliver life-changing therapies that improve health,” said David Simmons, chairman and CEO of PPD, in a statement. “We are dedicated to providing our clients a superior integration of scientific knowledge, technology and high-quality delivery to maximize the productivity of their R&D investments and to accelerate patient access to life-changing therapies.”
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“To be the global leader in generating and communicating evidence of product value to inform healthcare decision making.”
- Be trustworthy and ethical in everything you do.
- Make passion for your work contagious.
- Ask questions; find solutions.
- Make every effort count.
- Learn, educate, innovate.
- Commit to excellence.
- Succeed together.
- Client success is our success.
Evidera was formed in 2013 when Symphony Technology Group (STG), a private equity firm focused on technology and services, acquired the health economics (HE), outcomes research (OR), market access, epidemiology and data analytics practices of United BioSource Corporation (UBC), a wholly owned subsidiary of Express Scripts Holding Company. Evidera has over 30 year of leadership and experience and its legacy brands include MEDTAP, Caro Research, Abt Bio-Pharmaceutical Solutions, MetaWorks, Total Healthcare Group and Archimedes.
Evidera’s 300 researchers and consultants have expertise working in all developed and many developing countries.
- U.S. headquarters in Bethesda, MD (Washington, D.C.)
- European headquarters in London
- Primary offices in Boston, Budapest, Harrisburg, Montreal, San Francisco and Seattle
According to PPD, the deal “will further strengthen [its] peri- and post-approval capabilities of PPD, solidifying the company’s industry leadership across all phases of product development. The combination of these two best-in-class organizations will provide pharmaceutical and biotechnology companies seamless access to the expertise of PPD and Evidera for accelerated demonstration of product value in real-world settings.”
While a new company, Evidera features a team of employees with decades of life science experience.
“This acquisition brings together two leaders in their respective sectors. PPD’s unparalleled reputation for quality makes them an ideal match for Evidera, and joining the PPD family expands our global footprint and operational capabilities,” said Jon Williams, the head of Evidera, who is remaining with the company.”The combination of Evidera and PPD will provide customers with a seamless and unmatched set of solutions across the product life cycle.”
The deal is expected to close in the third quarter.