Thermo Fisher to Acquire Clinical Research Company PPD for $ 17.4 Billion

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Thermo Fisher Scientific (TFS) has announced a definitive agreement to acquire the clinical research organization PPD for $ 47.50 per share for a total cash consideration of $ 17.4 billion.

The company has also agreed to take on PPD’s net debt of approximately $ 3.5 billion.

Upon completion of the acquisition, PPD will be part of Thermo Fisher Laboratory Products and the Services segment.

Thermo Fisher Scientific President and CEO Marc Casper said, “The acquisition of PPD is a natural extension for Thermo Fisher and will allow us to provide these customers with important clinical research services and to collaborate with them to new and exciting way while they scientific idea to a drug approved quickly, reliably and cost effectively.

“Over the longer term, we plan to continue to invest and connect the capabilities of the combined business to further help our customers accelerate innovation and boost productivity while creating more value for our shareholders. “

The acquisition of PPD will help Thermo Fisher expand its service offering to pharmaceutical and biotechnology customers and establish the company as a global leader in clinical research services.

Additionally, the deal may strengthen Thermo Fisher’s offering, providing a proven drug development platform, robust patient recruitment capabilities and laboratory services.

PPD Chairman and CEO David Simmons said: “This is a very exciting announcement for our shareholders and will provide customers with an even better opportunity to bring meaningful innovation to market faster and more efficiently. .

“Thermo Fisher is a world-class company with a very similar culture and values ​​and will provide an excellent foundation for our colleagues to continue serving our customers and developing their own skills and careers. “

The combined company’s extensive capabilities and knowledge in serving the pharmaceutical and biotechnology industry will enable customers to come up with new solutions that create the potential to reduce the time and cost of the process involved in drug development.

The deal is subject to the satisfaction of customary closing conditions, including receipt of applicable regulatory approvals, and is expected to be concluded by the end of this year.

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