Rumors of a potential buyout of PPD heated up to the boiling point over the weekend as Reuters reported that LabCorp has been in talks to acquire the CRO for more than $8 billion, including debt.
If successful, a deal would follow LabCorp’s 2015 acquisition of Covance. But it’s far from certain. The wire service reports that several firms have been interested in an auction for PPD, which has been at the center of buyout rumors for some time.
Based in North Carolina, PPD is a top 10 CRO with more than 18,500 staffers operating in 51 countries. Over the past ten years there’s been significant consolidation in the business as the industry has grown. Biopharma has consistently sought to outsource more of its trial work. And the top 10 clinical research organizations now command more than half of the worldwide market.
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