PPD, Inc.
| Company type | Subsidiary |
|---|---|
| Industry | Contract research organization (CRO) |
| Founded | 1985 |
| Founder | Fred Eshelman |
| Headquarters | Wilmington, North Carolina , United States |
Area served | Worldwide |
Key people | David Simmons (Chairman and CEO as of 2012) |
| Products | Drug development, laboratory, and lifecycle management solutions |
Number of employees | 40,000+ (2023) |
| Parent | Thermo Fisher Scientific |
Pharmaceutical Product Development (PPD) functions as an international contract research organization (CRO) providing comprehensive drug development, laboratory, and lifecycle management solutions. Since December 2021, PPD has been a fully owned subsidiary of Thermo Fisher Scientific.
History
PPD was established in 1985 by entrepreneur Fred Eshelman, Pharm.D., initially starting as a solo consulting practice before rapidly broadening its offerings and moving to Wilmington, North Carolina in 1986. Significant events in its timeline include:
- 1989: Officially incorporated in North Carolina.
- 1996: Initiated public trading on Nasdaq with the ticker PPDI.
- 2005: Implemented a policy for annual cash dividends.
- 2009: David Grange took on the role of CEO; Eshelman transitioned to executive chairman.
- 2010: Marked its 25th year; divested compound partnering division to form Furiex Pharmaceuticals.
- 2011: Raymond Hill assumed CEO position; company was acquired by affiliates of The Carlyle Group and Hellman & Friedman for $3.9 billion.
- 2012: David Simmons became chairman and CEO.
- 2013-2016: Grew through acquisitions such as Acurian and Evidera, strengthening capabilities in patient recruitment and real-world evidence.
- 2014-2016: Established strategic alliances and joint ventures to enhance U.S. and international research site networks.
- 2017: Underwent recapitalization involving new investors like Abu Dhabi Investment Authority and GIC Private Limited.
- 2018-2019: Introduced innovative site solutions and data science partnerships; Evidera acquired Medimix; Accelerated Enrollment Solutions purchased Bioclinica’s global site operations.
- 2020: Conducted IPO on Nasdaq Global Select Market under symbol PPD.
- 2021: Thermo Fisher Scientific announced and finalized the acquisition of PPD for $17.4 billion.
The company’s strategic direction and operational framework have fueled steady growth, increasing its presence across pharmaceutical, biotechnology, and medical device sectors, with a workforce exceeding 40,000 employees globally as of 2023.
Location
PPD is headquartered in Wilmington, North Carolina, where it employs more than 27,000 staff members. Since December 2021, it functions as a wholly owned division of Thermo Fisher Scientific, which is based in Waltham, Massachusetts.