PPD has signed a contract with the U.S. government's Biomedical Advanced Research and Development Authority, agreeing to design and conduct clinical trials for products that protect against bioterrorism and other public health emergencies.
Under the two- to 5-year deal, PPD will join BARDA's Medical Countermeasure Clinical Studies Network, handling Phase I through IV development for drugs, vaccines and diagnostics that could combat biological threats and pandemics, the company said. The CRO is guaranteed at least $400,000 over the initial two-year period, and the contract tops out at $100 million over 5 years.
The network is part of a new government initiative to improve its response to public health disasters, according to the Department of Health and Human Services, and PPD joins fellow CROs Rho, ClinicalRM, Emmes and Technical Resources International in the program.
"PPD's inclusion in this vital network highlights our industry-leading efforts to support government research and development programs through our robust, end-to-end clinical research services," Executive Vice President of Clinical Development Paul Colvin said in a statement. "We are excited at the prospect of deploying our world-class scientific expertise, innovative solutions, cutting-edge technology, flexible resources and operational efficiencies to help protect public health and the nation's health security."
Private giant PPD already has a well-diversified revenue stream, and the CRO has grown to employ more than 13,000 people across 46 countries. Before Carlyle and Hellman & Friedman took it off the public markets in a $3.9 billion acquisition in 2011, the company reported annual revenue of around $1.6 billion.
- read the announcement
- get more info from HHS