PPD, Inc. (PPDI) Consolidates China Ops In Bigger Beijing Office
10/8/2010 7:24:57 AM
WILMINGTON, N.C., Oct 07, 2010 (BUSINESS WIRE) -- PPD, Inc. /quotes/comstock/15*!ppdi/quotes/nls/ppdi (PPDI 24.43, -0.40, -1.61%) today announced it has consolidated its clinical development operations in Beijing, China, in a new, larger office to support its growing client base in the country and throughout Asia Pacific. The new location enhances PPD's ability to deliver a full range of clinical research and development services in China as one of the country's largest contract research organizations.
Last year, PPD expanded its Phase II-IV clinical development, data management, biostatistics, quality assurance and global regulatory services in Asia Pacific and added more than 300 employees through its acquisition of Excel PharmaStudies. The new office unites PPD and Excel employees based in Beijing in one facility.
"The opening of our new office further demonstrates our commitment to investing in China, which continues to be an increasingly important, high-growth area for clinical research," said Simon Britton, vice president of clinical development in Asia Pacific. "The new facility provides us a solid foundation for continued growth in this country and across Asia Pacific to meet the growing needs of our clients."
PPD opened its first Beijing office in 2003. It now has clinical development offices in Chengdu, Guangzhou and Shanghai, a vaccine research center in Taizhou, global central laboratory services in Beijing and BioDuro, a leading integrated drug discovery outsourcing company that PPD acquired in 2009. The company employs more than 1,400 people throughout Asia Pacific with offices in Hong Kong, India, Singapore, Taiwan, Thailand, Korea, Japan, Malaysia, the Philippines, New Zealand and Australia.
The new office is located at Tower B&C 8F, Central Point Plaza, No. 11 Dongzhimen South Ave., Dongcheng District, Beijing. For more information about PPD services provided from the Beijing office, call +86(10) 5763 6250.
PPD is a leading global contract research organization, celebrating 25 years of providing drug discovery, development and lifecycle management services. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 42 countries and more than 10,500 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help clients and partners accelerate the delivery of safe and effective therapeutics and maximize the returns on their R&D investments. For more information, visit www.ppdi.com.
Except for historical information, all of the statements, expectations and assumptions contained in this news release, including expectations and assumptions about the opening of a new office in Beijing, China, and its contributions to PPD, are forward-looking statements that involve a number of risks and uncertainties. Although PPD attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors which could cause results to differ materially include the following: continued success in sales growth; loss of large contracts; increased cancellation rates; economic conditions and outsourcing trends in the pharmaceutical, biotechnology, medical device, academic and government industry segments; competition within the outsourcing industry; the ability to attract and retain key personnel; risks associated with and dependence on collaborative relationships; risks associated with acquisitions and investments, such as impairments; rapid technological advances that make our products and services less competitive; risks that we may not continue our dividend policy; and the other risk factors set forth from time to time in the SEC filings for PPD, copies of which are available free of charge upon request from the PPD investor relations department.
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