Navigation Links
PPD Announces Plan to Repurchase Shares of its Common Stock
Date:2/20/2008

WILMINGTON, N.C., Feb. 20 /PRNewswire-FirstCall/ -- PPD, Inc. (Nasdaq: PPDI) today announced its plans to begin a stock repurchase program whereby up to $350 million of its common stock may be purchased from time to time in the open market.

The company made the decision to initiate a share repurchase program in view of the current price at which the company's stock is trading, the strength of the company's balance sheet and its ability to generate cash, as well as to minimize earnings dilution from future equity issuances, including stock option exercises, purchases under the company's employee stock purchase plan and other equity compensation awards.

"The board of directors has evaluated potential stock repurchase programs in the past, and now believes that this repurchase plan is appropriate and a good use of a portion of our capital at the present time," said Fred Eshelman, chief executive officer of PPD. "It reflects the strength of the company's financial position, our confidence in the future potential of PPD and our continuing commitment to maximize value for our shareholders."

The company expects to finance the share repurchases from existing cash on hand and cash generated from future operations.

PPD is a leading global contract research organization providing discovery, development and post-approval services as well as compound partnering programs. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 30 countries and more than 10,200 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help its clients and partners maximize returns on their R&D investments and accelerate the delivery of safe and effective therapeutics to patients. For more information, visit our Web site at http://www.ppdi.com .

Except for historical information, all of the statements, expectations and assumptions, including expectations and assumptions about the repurchase of stock, contained in this news release are forward-looking statements that involve a number of risks and uncertainties. Although PPD attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors which could cause results to differ materially include the following: risks related to using our cash for the stock repurchase program, including potential limitations on cash available for growth opportunities; risks that we may not continue our dividend policy; economic conditions and outsourcing trends in the pharmaceutical, biotechnology and medical device industries and government- sponsored research sector; continued success in sales growth; loss of large contracts; competition within the outsourcing industry; the ability to attract and retain key personnel; dependence on collaborative relationships; rapid technological advances that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for PPD, copies of which are available free of charge upon request from the PPD investor relations department.

Contacts

Dan Darazsdi

+910 558 7915

dan.darazsdi@wilm.ppdi.com

Craig Eastwood

+910 558 7585

craig.eastwood@wilm.ppdi.com


'/>"/>
SOURCE PPD, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
2. YM BIOSCIENCES ANNOUNCES COMPLIANCE WITH AIM RULE 26
3. Emisphere Technologies, Inc. Announces Pricing of Registered Direct Offering
4. BioLife Solutions Announces Exclusive CryoStor(TM) Supply Agreement With the New England Cryogenic Center, Inc.
5. Carrington Announces Nasdaq Communication; Prepares for Shares to Be Quoted on the OTC Bulletin Board and Pink Sheets
6. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
7. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
8. Advanced Life Sciences Announces Receipt of Nasdaq Staff Letter
9. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
10. Angiotech announces additional diameters of sutures to further expand its Quill(TM) SRS PDO product line
11. CNS Response Announces Fiscal Third Quarter 2007 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/7/2016)... , Dec. 7, 2016  Muse bio, a privately-held ... today announced that Dr. Kevin Ness has ... Board of Directors. Kevin succeeds Muse ... the company,s Chief Science Officer as well as remains ... of the BioDesign Center at the RAS Energy Institute ...
(Date:12/7/2016)... Maryland (PRWEB) , ... December 07, 2016 , ... ... for digital pathology, announced today a new service to enable rapid migration of ... data upload has remained one of the factors limiting adoption of digital pathology. ...
(Date:12/6/2016)... Texas , Dec. 6, 2016 The ... for its adoption of arnica ( Arnica montana ... support to ABC,s HerbMedPro database, a ... important scientific and clinical research data on the ... popular herbs. Naturopathica, a wellness company ...
(Date:12/6/2016)... ... December 06, 2016 , ... Discovering new clues to ... see with lasers what’s happening in our brains. And searching for keys to our ... in research being honored with the 2017 Edith and Peter O’Donnell Awards ...
Breaking Biology Technology:
(Date:12/2/2016)... The report "Biometric Vehicle Access ... (Iris Recognition System), Vehicle Type (Passenger Car, Battery ... 2021", published by MarketsandMarkets, the market is estimated ... is projected to grow to USD 854.8 Million ...      (Logo: http://photos.prnewswire.com/prnh/20160303/792302) ...
(Date:11/30/2016)... Poland , Nov. 30, 2016 Not many of us realize that ... aspects of recovery so we need to do it well. Inadequate sleep levels have ... high blood pressure, stroke, diabetes, and even cancer. Maybe now is the ... present that could help them to manage their sleep quality? ... ...
(Date:11/29/2016)... BioDirection, a privately held medical device company ... detection of concussion and other traumatic brain injury (TBI), ... meeting with the U.S. Food and Drug Administration (FDA) ... During the meeting company representatives reviewed plans for clinical ... commencement of a planned pilot trial. ...
Breaking Biology News(10 mins):