state Massachusets city Wilmington testing pandemic state Massachusets city Wilmington

Thermo Fisher buying PPD in deal worth $17.4 billion

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www.clickorlando.com

WALTHAM, Mass. – Thermo Fisher is buying clinical research company PPD in a deal valued at $17.4 billion. Activity in healthcare testing has surged during the global pandemic, and Thermo Fisher expanded its exposure to that sector rapidly with the deal announced Thursday.

Shares of the Waltham, Massachusetts, company rose almost 4% before the opening bell. PPD, based in Wilmington, N.C., is a contract-research company, which tests experimental drugs being pursued by pharmaceutical companies.

The company provides services to emerging biotech firms as well as global pharmaceutical companies. It booked revenue of $4.7 billion last year.

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