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PPD Continues China Acquisitions, Takes Over BioDuro

Nov. 29, 2009

On November 30, Pharmaceutical Product Development (PPD) (NASDAQ: PPDI) announced its acquisition of BioDuro LLC for approx. USD 77 million.
Both PPD and BioDuro are US-based drug development contract research organizations (CRO) with branches in Beijing, where BioDuro operates a 110,000 square-foot laboratory. PPD has indicated that its acquisition of BioDuro will allow it to expand its capabilities and increase its workforce to nearly 1,000 people in China.
PPD recently announced plans to acquire 100% of Excel PharmaStudies, a China-based CRO that primarily provides phase II to IV clinical trial services.