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Concept
PPD, Inc.
Summary
Pharmaceutical Product Development (PPD) is a global contract research organization (CRO) providing comprehensive, integrated drug development, laboratory and lifecycle management services. In December 2021, PPD became a wholly owned subsidiary of Thermo Fisher Scientific.
PPD was founded by Fred Eshelman, Pharm.D., as a one-person consulting firm in 1985. The following year he expanded the company's scope to include development services and relocated operations from Maryland to North Carolina.
July 1985: Fred Eshelman, Pharm.D., founds PPD as a one-person consulting firm based in his home in Maryland.
1986: Eshelman expands the company and relocates operations to Wilmington, North Carolina.
January 1989: The company incorporates in North Carolina.
January 1996: PPD issues its initial public stock offering and begins trading on the Nasdaq National Market System under the symbol PPDI.
October 2005: PPD's board of directors adopts an annual cash dividend policy.
July 2009: The company promotes Eshelman to executive chairman and names David Grange chief executive officer.
January 2010: The company commemorates the 25th anniversary of its founding.
June 2010: PPD spins off its compound partnering division as a new and independent publicly traded company, Furiex Pharmaceuticals.
May 2011: David Grange retires as chief executive officer of PPD.
September 2011: PPD's board of directors names Raymond Hill as PPD's new chief executive officer.
December 2011: The company is acquired by affiliates of The Carlyle Group and affiliates of Hellman & Friedman in an all-cash transaction valued at approximately $3.9 billion.
May 2012: PPD's board of directors names David Simmons as chairman and CEO.
August 2013: PPD acquires Acurian.
December 2014: PPD announces an agreement with SNBL to form a joint venture to provide full range of clinical development services in Japan.
May 2015: PPD expands network of U.S.-based research sites via strategic relationship with Radiant.
June 2016: PPD expands network of global research sites via strategic relationship with Synexus.
Official source
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