Pharmaceutical Product Development, LLC (PPD), a leading global contract research organization (CRO), today announced it has entered into an agreement to acquire Evidera, a leading provider of evidence-based solutions to demonstrate the real-world effectiveness and value of biopharmaceutical products.
The acquisition will further strengthen the peri- and post-approval capabilities of PPD, solidifying the company’s industry leadership across all phases of product development. The combination of the two organizations will provide pharmaceutical and biotechnology companies seamless access to the expertise of PPD and Evidera for accelerated demonstration of product value in real-world settings.
Evidera will become a wholly owned subsidiary of PPD, delivering peri- and post-approval studies, health economics, outcomes research, epidemiology and market access consulting. Leveraging PPD’s comprehensive, end-to-end clinical development and laboratory services, Evidera will deliver global real-world offerings that continue to meet the highest standards of science, quality and customer-centric service. The addition of Evidera’s expertise and capabilities will strengthen PPD’s existing offerings, providing integrated solutions, global scale and comprehensive scope to address the growing demand for evidence from regulators, payers and health technology assessment agencies.
“Our acquisition of Evidera demonstrates PPD’s commitment to strategic investments that enable our clients to advance the generation of real-world evidence to more efficiently deliver life-changing therapies that improve health, ” said David Simmons, chairman and CEO of PPD. “We are dedicated to providing our clients a superior integration of scientific knowledge, technology and high-quality delivery to maximize the productivity of their R&D investments and to accelerate patient access to life-changing therapies.”
Jon Williams, who will continue to lead Evidera, said, “This acquisition brings together two leaders in their respective sectors. PPD’s reputation for quality makes them an ideal match for Evidera, and joining the PPD family expands our global footprint and operational capabilities. The combination of Evidera and PPD will provide customers with a seamless set of solutions across the product life cycle.”
Led by an experienced industry team, Evidera was created as an independent company in 2013 under the ownership of Symphony Technology Group (STG) following the acquisition of long-standing health economics, outcomes research, market access, epidemiology and data analytics practices.
“We believe that PPD is an excellent fit for Evidera,” said J.T. Treadwell, managing director at STG. “Both teams have a reputation for excellence and industry leadership, and we wish the Evidera team continued success on the next phase of their growth trajectory.”
Over the years, Evidera has worked with all of the top biopharma companies, and it is a preferred provider for most of the top 50. Evidera scientists and consultants have published more than 2,200 peer-reviewed articles and have more than 1, 100 studies in progress across all major therapeutic areas. Evidera will continue to operate its office locations in North America and Europe and grow its network of experts in major markets around the world.
PPD’s acquisition of Evidera is subject to certain closing conditions, including U.S. anti-trust clearance, and is expected to close in the third quarter of 2016.