PPD to buy European CRO

Looking to boost it's presence in emerging markets, PPD announced it will acquire AbCRO, a Central and Eastern Europe contract research organization. Financial details of the deal were not disclosed.

The buyout gives PPD new holdings in Romania, Bulgaria, Serbia and Croatia and enhances its existing operations in Poland, Russia and Ukraine. The 230-person AbCRO provides phase II-IV clinical services, including clinical trial management and monitoring, patient recruitment. In a release, AbCRO CEO Dana Leff said the buyout will allow PPD to take advantage of the "immense growth" in Central and Eastern European clinical trials. Leff will oversee PPD's business in that region.

"This acquisition will strengthen our foothold in Central and Eastern Europe and enhance our ability to conduct global trials for our clients," noted PPD CEO Fred Eshelman. "We see many synergies with AbCRO and anticipate a relatively seamless integration, with many of the AbCRO employees already well-versed on basic PPD procedures and systems." PPD has 10,500 employees and operates in 33 countries.

- here's PPD's release

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