Hotels are popping up throughout downtown to serve the citys convention center, which sits just a few blocks south of PPD. Thermo Fisher (TMO) to Buy PPD Inc. for $17.4 Billion - Bloomberg.com It's now a done deal. Thermo Fisher Scientific, Inc. has completed its acquisition of Wilmington-based global contract research organization PPD. Additional important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in Thermo Fisher's Annual Report on Form 10-K for the year ended December 31, 2020, which is on file with the U.S. Securities and Exchange Commission ("SEC") and available in the "Investors" section of Thermo Fisher's website, ir.thermofisher.com, under the heading "SEC Filings," and in any subsequent Quarterly Reports on Form 10-Q and other documents Thermo Fisher files with the SEC, and in PPD's Annual Report on Form 10-K for the year ended December 31, 2020, which is on file with the SEC and available in the "Investors" section of PPD's website, investors.ppd.com, under the heading "SEC Filings," and its subsequent Quarterly Reports on Form 10-Q and in other documents PPD files with the SEC. Thermo Fisher has obtained committed bridge financingwith respect to a portion of the purchase price. The purchase price represents a 24% premium to PPDs common stock price as on April 13, 2020. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. The transaction is expected to . ", Casper added, "Both companies have complementary mission-driven cultures, and I can't wait to welcome PPD's colleagues from around the world to Thermo Fisher once the transaction is completed. The company expects to realise nearly $125m in overall synergies by three years following the acquisition. Recognize any of these names? Thermo Fisher Scientific Inc has reached a definitive agreement to acquire PPD Inc, a leading clinical research service provider. Thermo Fisher to Acquire PPD for $17.4 Billion. ", View original content to download multimedia:http://www.prnewswire.com/news-releases/thermo-fisher-scientific-to-acquire-ppd-inc-a-leading-clinical-research-organization-301269660.html, 781.622.1111 In connection with the completion of the transaction, PPD's common stock ceased trading on Nasdaq prior to the opening of trading today. For more information, please visitwww.thermofisher.com. This free whitepaper explores how pharma firms can implement real-time visibility across their supply chains, identifying and tackling risks as soon as they spring up. The company reports annual revenue of nearly $30 billion, with a global workforce of more than 80,000. North Carolina's life sciencesSign up for our Newsletter. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. See Thermo Fisher stock analysis on TipRanks, RedfinNow Expands Into Tucson As Las Vegas Operations Resume, Blackstones Affiliates Plan To Acquire Sabre Industries, KBR And JS Energy Limited Ink Licensing Agreement. 1Adjusted earnings per share is a non-GAAP measure that excludes certain items detailed later in this press release under the heading "Use of Non-GAAP Financial Measures. When completed, a definitive information statement will be mailed to PPD's stockholders. PPD has invested significantly in its capabilities and is one of the leading global players providing services to both emerging biotech customers and to all of the top pharma companies in the world. PDF Thermo Fisher to Acquire PPD April 15, 2021 - s27.q4cdn.com April 15, 2021 | A version of this story appeared in Volume 99, Issue 14 Credit: PPD PDD managed the Phase 3 clinical trial that led to US authorization of Moderna's COVID-19 vaccine. Global contract research organization PPD (PPD), will be acquired by Thermo Fisher Scientific (TMO) for $17.4 billion in cash, including the assumption of debt. The average analyst price target of $559.55 implies a 13.18% upside potential to current levels. ron.obrien@thermofisher.com, Investor Contact Information: By providing your email address below, you are providing consent to Thermo Fisher Scientific Inc. to send you the requested Investor Email Alert updates. PPD provides a broad range of clinical research and laboratory services to enable customers to accelerate innovation and increase drug development productivity. In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), Thermo Fisher uses certain non-GAAP financial measures, including adjusted EPS, which excludes certain acquisition-related costs, including charges for the sale of inventories revalued at the date of acquisition and significant transaction costs; restructuring and other costs/income; amortization of acquisition-related intangible assets; certain other gains and losses that are either isolated or cannot be expected to occur again with any regularity or predictability, tax provisions/benefits related to the previous items, benefits from tax credit carryforwards, the impact of significant tax audits or events and the results of discontinued operations. WILMINGTON, N.C. (WECT) - Pharmaceutical giant Thermo Fisher Scientific Inc. has agreed to acquire Wilmington-based PPD for a total cash purchase price of $17.4 billion. Global Mergers and Acquisitions (M&A) Deals in the Healthcare Sector, Q2 2021 - Top Themes - Pharmaceuticals Industry Mergers and Acquisitions Deals by Top Themes in Q1 2022 - Thematic Research, Canada's Solve FSHD provides $1.4m for rare muscle dystrophy therapy, IGC Pharma obtains funds to boost Alzheimers research. With the addition of PPD, Thermo Fisher will offer a comprehensive suite of world-class services across the clinical development spectrum from scientific discovery, to assessing safety, efficacy, and health care outcomes, to managing clinical trial logistics, to the development and manufacturing of the drug product. Thermo Fisher closes $17.4B acquisition - The Business Journals E-mail: investorrelations@thermofisher.com. This communication contains forward-looking statements that involve a number of risks and uncertainties. "Pharma and Biotech is our largest and fastest growing end market, and our customers value us as a strategic partner and an industry leader. Waltham, Massachusetts-based Thermo Fisher announced Thursday that it has agreed to pay $17.4 billion cash for PPD, breaking down to $47.50 for each share of the company. WALTHAM, Mass.-- ( BUSINESS WIRE )--Thermo Fisher Scientific Inc. (NYSE: TMO) ("Thermo Fisher"), the world leader in serving science, today announced it has entered into a definitive. Our global teamofmore than 100,000colleaguesdelivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. Thermo Fisher Scientific Inc. 's $17.4 billion acquisition of PPD Inc., a provider of clinical and research services to the pharma and biotech industries, is "all about speed" in getting. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. The webcast and accompanying slides can be accessed in the Investors section of www.thermofisher.com. Thermo Fisher to Acquire PPD for $17.4B, as CROs Consolidate Further Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $40 billion. Assurance you know what's what about business happenings in the Wilmington region! SAJ Media, LLC Thermo Fisher Completes Acquisition of PPD, Thermo Fisher Scientifics PPD Business Gets NIH Contract for Neurological Device Development, Thermo Fisher Scientifics PPD Business Awarded Cancer-Support Contract, MAKO Medical Validates Monkeypox Test with Thermo Fisher Scientific. Copyright Thermo Fisher Scientific Inc. All rights reserved. "We are very excited to officially welcome our PPD colleagues to Thermo Fisher Scientific," said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific. While a major employer and feather in Wilmington's business portfolio, a former mayor said PPD means much more than that to the Port City. news Thermo Fisher to acquire PPD for over $17 billion Posted: 16 April 2021 | Hannah Balfour (European Pharmaceutical Review) | No comments yet The acquisition, anticipated to complete in 2021, allows Thermo to expand its 'one-stop-shop' of services into running clinical trials. from 8 AM - 9 PM ET. The transaction is expected to be immediately and significantly accretive to Thermo Fisher's adjusted EPS, adding $1.40 in the first 12 months after close. Thermo Fisher to acquire PPD for $17 billion - Chemical & Engineering News A leader in the growing $50 billion clinical research services industry, PPD has more than 26,000 colleagues operating in nearly 50 countries. That price. "We are very excited to officially welcome our PPD colleagues to Thermo Fisher Scientific," saidMarc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific. "2This includes PPD's outstanding 4.625% Senior Notes due 2025 and 5.000% Senior Notes due 2028 issued by Jaguar Holding Company II and PPD Development, L.P. and guaranteed by PPD, the holders of which have been notified that PPD will redeem all of such notes at the redemption prices specified in the governing indenture, plus interest through the redemption date December 18, 2021. D., as a one-person consulting firm, Expands scope to include development services. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Our mission is to enable our customers to make the world healthier, cleaner and safer. After submitting your request, you will receive an activation email to the requested email address. Thermo Fisher To Acquire PPD - Clinical Leader PPD sold to Thermo Fisher Scientific. What it means for Wilmington Thermo Fisher said it expects to realize nearly $125 million overall in synergies within the first three years of the acquisition. The company in December announced it was making a $500 million investment in the facility, adding 500 new jobs. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Pharmaceutical industry stakeholders are you ready for the future? The . The takeover is anticipated to aid Thermo Fisher in becoming an expert in the clinical research services industry and will help bolster its offering. Thermo Fisher Scientific Acquires PPD, Inc., a Leading Clinical Research Organization, for $17.4 Billion . Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. 08 - Thermo Fisher Scientific Completes Acquisition of PPD, Inc. / -- Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that it has completed its acquisition of PPD, Inc. (Nasdaq: PPD), a leading global provider of clinical research services to the biopharma and biotech industry, for$17.4 billion. (See Thermo Fisher stock analysis on TipRanks) Thermo Fisher bid to acquire PPD comes under regulatory scrutiny in U.K ", Establishes Thermo Fisher as One of the Global Leaders in the Attractive, High Growth Clinical Research Services Industry. PPD will become part of Thermo Fisher's Laboratory Products and Services Segment. Prior to the PPD acquisition, it employed about 4,000 people across seven sites in the state. "We are very excited to officially welcome our PPD colleagues to Thermo Fisher Scientific," said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific. PPD spawned the significant regional cluster of CROs here, with dozens of companies now employing thousands of talented professionals who call the Wilmington area home, he said. Whether our customers are accelerating life sciences research, solving complex analytical challenges, improving patient diagnostics and therapies or increasing productivity in their laboratories, we are here to support them. Dial-In:(800) 585-8367 or (416) 621-4642Conference ID:2766349. 1 Adjusted earnings per share is a non-GAAP measure that excludes certain items detailed later in this press release under the heading "Use of Non-GAAP Financial Measures. This communication is being made in respect of the proposed transaction involving Thermo Fisher Scientific and PPD, Inc. PPD will prepare an information statement for its stockholders containing the information with respect to the transaction specified in Schedule 14C promulgated under the Securities Exchange Act of 1934, as amended, and describing the proposed transaction. PPD Acquisition Forecasted to Contribute to 14% of Revenue in 2022. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. The purchase will also include the assumption of approximately $3.5 billion of net debt.</p> The transaction, which is expected to be completed by the end of 2021, is subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals. Copyright Thermo Fisher Scientific Inc. All rights reserved. This is a very exciting announcement for our shareholders and will provide customers with an even better opportunity to bring meaningful innovation to the market faster and more efficiently, said PPD Chairman and CEO David Simmons. In April 2021, Thermo Fisher and PPD, Inc. announced a definitive agreement under which Thermo Fisher will acquire PPD for $47.50 per share for a total cash purchase price of $17.4 billion plus . Thermo Fisher Scientific: 14% Revenue Boost (NYSE:TMO) Weighing in on the acquisition, Citigroups analyst Patrick B Donnelly says the takeover makes a lot of sense based on valuation and fundamentals. No further action by other PPD shareholders is required to approve the transaction. An audio archive of the call will be available in that section of the website until April 29, 2021. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, with annual revenue of approximately $40 billion. As previously announced, the transaction is expected to contribute $1.50 to Thermo Fisher's adjusted earnings per share in 2022.1Details of the 2021 impact will be provided during Thermo Fisher's fourth quarter earnings call in early 2022. This will comprise cost synergies of nearly $75m and around $50m of adjusted operating income gains from revenue-linked synergies. 2023 www.starnewsonline.com. - OCTOBER 31, 2022 - Thermo Fisher Scientific Inc. (NYSE: TMO) ("Thermo Fisher"), the world leader in serving science, today announced that it has entered into a definitive agreement under which it will acquire The Binding Site Group ("The Binding Site"), a global leader in specialty diagnostics, from a shareholder . "Expanding our value proposition for our biotech and pharmaceutical customers with the addition of PPD's leading clinical research services advances our work in bringing life-changing therapies to market, benefitting patients around the world.". For more information, please visit www.thermofisher.com. This implies that the stock is likely to outperform market expectations. Thermo Fisher Scientific agrees to acquire Wilmington-based PPD in $17. North Carolina Biotechnology Center. If you have any questions regarding this Press Release, please email us atmedia.relations@thermofisher.com. You must have a subscription to access more than 5 stories per month. Read more By Controlant In April, Thermo Fisher entered a definitive agreement to acquire PPD for $47.50 for each share. Thermo Fisher Scientific chairman, president and CEO Marc Casper said: We are very excited to officially welcome our PPD colleagues to Thermo Fisher Scientific. Thermo Fisher Scientific has announced that it will acquire PPD for $47.50 per share. According to a release, PPD employs 26,000 people in nearly 50 countries and had revenue of $4.7 billion last year. According to the analyst, the $15 billion plus price target translates to a "reasonable" EBTIDA multiple for a company poised for growth in the "foreseeable future". Further expands service offering to pharma and biotech customers, Thermo Fisher Scientific to Acquire PPD, Inc., a Leading Clinical Research Organization, GAAP/Non-GAAP Reconciliation and Financial Package, http://www.prnewswire.com/news-releases/thermo-fisher-scientific-to-acquire-ppd-inc-a-leading-clinical-research-organization-301269660.html. Both times concerns were raised about the companys continued presence in downtown Wilmington. Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue exceeding$30 billion. Our global teamofmore than 100,000colleaguesdelivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. The combined company's extensive capabilities and knowledge in serving the pharma and biotech industry will enable new solutions for customers that create the potential to reduce the time and cost of the drug development process. Thermo Fisher buys PPD for $17.4b in Waltham giant's largest deal to PPD is a leading global clinical research organization providing broad, integrated drug development, laboratory and lifecycle management services. The annual Book on Business publication (a $24.95 value) mailed to you in January, Advanced notification of Business Journal events. and WILMINGTON, N.C., April 15, 2021 /PRNewswire/ --Thermo Fisher Scientific Inc. (NYSE: TMO) ("Thermo Fisher"), the world leader in serving science, and PPD, Inc. (Nasdaq: PPD) ("PPD"), a leading global provider of clinical research services to the pharma and biotech industry, today announced that their boards of directors have approved a definitive agreement under which Thermo Fisher will acquire PPD for $47.50 per share for a total cash purchase price of $17.4 billion plus the assumption of approximately $3.5 billion of net debt. You must click the activation link in order to complete your subscription. The U.K. antitrust watchdog, the Competition and Markets Authority (CMA) announced on Friday the launch of an investigation into the proposed acquisition of PPD (NASDAQ: PPD) by Thermo Fisher. With the company about to change hands again, Broadhurst understands that people could be nervous about what the future might hold. Investors are urged to carefully read the information statement regarding the proposed transaction and any other relevant documents in their entirety when they become available because they will contain important information about the proposed transaction. This press release shall not constitute a notice of redemption with respect to, or an offer to purchase or sell (or the solicitation of an offer to purchase or sell) any PPD notes. A leader in the $50 billion clinical research services industry, PPD should strengthen Thermo Fisher's (TMO) scientific prospects in the attractive and high-growth industry. Thermo Fisher will host a conference call and webcast at 8:30 a.m. Eastern Time today to provide more information on this announcement. I think they and Wilmington are in a good place right now.. While the company may elect to update forward-looking statements at some point in the future, the company specifically disclaims any obligation to do so, even if estimates change and, therefore, you should not rely on these forward-looking statements as representing the company's views as of any date subsequent to today. PPD Outlines New Risk Factors Amid Pending Thermo Fisher Merger
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