WILMINGTON, N.C., Jan. 23 /PRNewswire-FirstCall/ -- PPD, Inc. (Nasdaq: PPDI) today announced that it has expanded its global central lab services into China through an exclusive agreement with Peking Union Lawke Biomedical Development Limited (PUL). The agreement allows PPD to begin immediately providing biopharmaceutical clients with its full range of highly customized central lab services in China.
"Chinese law makes it extremely difficult to export lab samples to other countries for testing," said Agostino L. Fede, Ph.D., senior vice president of PPD and head of PPD's global central labs. "Our agreement with PUL expands our global central lab capabilities in a high growth clinical research market. It also saves our clients time and money by providing lab results more quickly without incurring expenses for exporting shipments."
Under the terms of the agreement, PPD invested in laboratory equipment located at Peking Union Medical College in the Beijing Zhong Guan Cun Life Sciences Park, the largest life sciences park in China. The equipment is identical to platforms located at PPD's global central labs in Brussels, Belgium, and Highland Heights, Ky., and assays performed have been extensively cross validated and precisely calibrated to match instruments at these labs. With these and other ongoing quality assurance measures, PUL and PPD deliver laboratory data that are directly combinable. In addition, PUL is interfaced real-time to ConneXion, PPD's proprietary computer system, to assure consistent management and reporting.
Jian Ho, M.D., Ph.D., medical director at PUL, will oversee the lab while PPD will lead project management and investigator services and work with clients on study setup. As part of the agreement, PUL will conduct chemistry, hematology, urinalysis and hemoglobin A1c tests to support PPD's clinical trials business in China. PUL also offers an extensive range of esoteric tests. In return, PUL will have rights to use the equipment to conduct central lab testing for Chinese clients running clinical trials in China.
"PUL provides reference testing services to hospitals, clinics and is the largest reference lab in Beijing," said Dr. Ho. "We are pleased to use our experience across numerous lab platforms to support PPD's global central labs."
The PUL global central lab participates in the College of American Pathologists (CAP) external proficiency testing program and has applied for CAP accreditation. PUL is performing National Glycohemoglobin Standards Program testing in anticipation of accreditation.
This year marks PPD's 20th anniversary providing global central lab services.
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 10,000 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 contained in this news release, including expectations and
assumptions about the expansion of PPD global central lab services, 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 associated with and dependence on
collaborative relationships; rapid technological advances that make our
products and services less competitive; continued success in sales growth;
loss of large contracts; increased cancellation rates; economic conditions
and outsourcing trends in the pharmaceutical, biotechnology, medical
device, academic and government industry segments; competition within the
outsourcing industry; the ability to attract and retain key personnel;
risks associated with the development and commercialization of drugs,
including earnings dilution and obtaining regulatory approval; risks
associated with acquisitions and investments, such as impairments; risks
that we may not continue our dividend policy; 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
Sue Ann Pentecost
+919 456 5890
+910 558 7585
|SOURCE PPD, Inc.|
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