Bringing The World Home To You

© 2022 WUNC North Carolina Public Radio
120 Friday Center Dr
Chapel Hill, NC 27517
919.445.9150 | 800.962.9862
91.5 Chapel Hill 88.9 Manteo 90.9 Rocky Mount 91.1 Welcome 91.9 Fayetteville 90.5 Buxton 94.1 Lumberton 99.9 Southern Pines
Play Live Radio
Next Up:
Available On Air Stations
Business & Economy

NC-Based PPD Sold

North Carolina’s clinical trials industry is seeing a major shift.  The latest example is the purchase of Wilmington-based P-P-D.

Pharmaceutical Product Development or P-P-D was acquired by two private equity firms for a whopping 3-point-9-billion dollars.  It’s said to be one of the largest private equity deals of the year.  The pharmaceutical industry outsources clinical research and testing to companies like P-P-D.  Kevin Schulman is director of the Health Care Sector Management Program at Duke’s Fuqua School of Business.  He says like pharmaceutical companies – the clinical research industry is shrinking.

Kevin Schulman: "When Glaxo and SmithKline were separate, they were two separate clients for PPD.   And Pfizer and Wyeth were separate, they were two separate clients.  As those firms merged there were fewer and fewer clients for PPD to work with."

Wall Street liked the P-P-D announcement.   Shares jumped 30-percent

Related Stories
More Stories