PPD Awarded NIH Contract For HIV Research Support
WILMINGTON, N.C.--(BUSINESS WIRE)--Pharmaceutical Product Development, LLC (PPD) today announced it has secured the fifth renewal of its long-standing contract with the Division of AIDS (DAIDS), National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH). The original NIAID/DAIDS contract was awarded in 1990, and with the latest renewal, the relationship will extend until 2024.
“We are privileged to continue our collaborative relationship with the NIH, leveraging our considerable resources as one of the world’s largest CROs, while capitalizing on our in-depth knowledge of infectious diseases.”
The renewed contract covers support for a broad scope of research related to HIV or HIV co-infections that includes monitoring therapeutic trials, prevention trials and vaccines work. As part of the relationship, PPD predicts risks to clinical trial participant safety and data integrity based on measures of site performance and other known risk factors.
“The extension of this contract will allow PPD to provide important comprehensive clinical site and study monitoring services to the NIH in some of the most pivotal and exciting directions in AIDS research,” said William Sharbaugh, chief operating officer of PPD. “We are privileged to continue our collaborative relationship with the NIH, leveraging our considerable resources as one of the world’s largest CROs, while capitalizing on our in-depth knowledge of infectious diseases.”
PPD’s most recent contracts, ranging between five and seven years, have involved monitoring for an average of 150 clinical studies per contract.
PPD is a leading global contract research organization providing comprehensive, integrated drug development, laboratory and lifecycle management services. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 47 countries and more than 18,500 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a firm commitment to quality to help clients and partners bend the cost and time curve of drug development to deliver life-changing therapies that improve health. For more information, visit www.ppdi.com.
Except for historical information, all of the statements, expectations and assumptions, including statements, expectations and assumptions about PPD’s contracts awarded by the NIAID/DAIDS, contained in this news release 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 and could cause actual results to differ materially from the forward-looking statements. Other important factors that could cause future results to differ materially include the following: rapid technological advances that make our services or capabilities less competitive; the ability to attract, integrate, retain and train key personnel; competition in the outsourcing industry; PPD’s ability to win new business; overall global economic conditions; economic conditions, research and development spending, and outsourcing trends in the pharmaceutical, biotechnology and government-sponsored research sectors; loss, delay or modification of large contracts; higher-than-expected cancellation rates; the rate of conversion of backlog into revenue; risks associated with and dependence on strategic relationships; risks associated with acquisitions and investments; the ability to control SG&A spending; compliance with drug development regulations; changes in the regulation of the drug development process; consolidation in the pharmaceutical and biotechnology industries; and actual operating performance. PPD assumes no obligation and expressly disclaims any duty to update these forward-looking statements in the future, except as required by applicable law. These forward-looking statements should not be relied upon as representing PPD’s estimates or views as of any date subsequent to the date hereof.