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news.PPD has signed an agreement to purchase InnoPharm, an independent contract research organization, based in Smolensk, Russia.
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The acquisition will expand PPD’s global reach with established offices in both Russia and Ukraine. The acquisition is expected to close in the second quarter of 2008, subject to customary closing conditions and obtaining regulatory approvals. After the acquisition closes, Sergey Sudilovsky, currently director general of InnoPharm, will oversee operations in Russia and Ukraine for PPD.
Fred Eshelman, CEO of PPD, said: “In addition to extending our geographic footprint and enhancing our ability to conduct global studies for our clients, we are gaining a high-caliber group of clinical research professionals.”