PPD to Acquire Excel PharmaStudies
12 November 2009
Global contract research organization PPD, Inc. (Nasdaq: PPDI)
has entered into an agreement to acquire Chinese company Excel
PharmaStudies, Inc.
Excel PharmaStudies is the market leader and one of the largest contract
research organizations in China. The acquisition will provide PPD
additional capacity and expertise in this rapidly growing market. It
also significantly increases its employee and client base in the Asia
Pacific.
The acquisition strengthens PPD’s ability to offer Phase II–IV
clinical, data management, biostatistics, regulatory and quality
assurance services under a variety of operating models, ranging from
functional to full service.
Combining its drug development expertise with its global central
laboratory operations in Beijing and Singapore uniquely positions PPD to
deliver a broad set of services to biopharmaceutical companies in China,
Japan and throughout the region. Excel will operate as a wholly-owned
subsidiary of PPD.
“Biopharmaceutical companies are increasingly including China and
Japan in their drug development programs because of the rapid growth of
these markets,” said David Grange, chief executive officer, PPD. “Excel
brings a solid reputation, broad client base and regulatory expertise
and is an important part of our continued expansion in this fast-growing
region.”
Founded in 2000, Excel provides a comprehensive range of Phase II-IV
clinical services, including regulatory affairs, patient recruitment,
protocol design, feasibility studies, good clinical practice training
and program management. Excel has worked with many of the world’s
leading biopharmaceutical companies from more than 15 cities throughout
China and operates a vaccine research center and biometrics center, both
of which are located in Taizhou.
After the acquisition closes, Excel’s more than 300 employees will
join PPD, and Mark Engel, co-founder, will work exclusively with PPD as
a strategic consultant. Mr. Engel said, “We look forward to combining
Excel’s strong operational expertise and relationships in China with
PPD’s global discovery, development and laboratory capabilities to
deliver a comprehensive range of services that meets our clients’
complete drug development needs.”
PPD opened its Beijing office in 2003, where it provides a broad
range of clinical development services. In 2008, it expanded its global
central lab services into China through an exclusive agreement with
Peking Union Lawke Biomedical Development Limited (PUL). The agreement
allowed PPD to provide biopharmaceutical clients a full range of highly
customized central lab services. In addition to Beijing and Hong Kong,
PPD has offices in India, Singapore, Taiwan, Thailand, Korea and Japan
and currently employs more than 400 people in Asia Pacific.