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PHARMACEUTICAL PRODUCT DEVELOPMENT INC. / Wilmington, North Carolina Diversity Is The Right Medicine For These Guys.(A)
Byline: Gloria Lau
In 1997, when most companies in the contract research industry watched annual earnings grow more than 30%, one was busy making big changes.
That company, Pharmaceutical Product Development Inc., is one of the nation's largest contract research organizations. CROs take over extra drug testing that drug developers can't handle.
The firm enjoyed a 45% earnings gain in 1997. Yet it still decided to shake things up, leading some industry watchers to wonder: Why fix a business that didn't need fixing?
"Because the math didn't work," said Fred Eshelman, PPD's chief executive. "We diversified because . . . we didn't think the analysts' projected growth rates were sustainable in the long term."
Branching Out
Eshelman added two new arms to the company. In 1997, he added drug discoveryservices. A year later, so-called virtual partnerships were brought into the mix.
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- Press release article from: PR Newswire October 1, 2003 700+ words
...preclinical strategy and early product development and was previously with PPD for five years. Prior...application submission. At PPD, Dr. McIntyre served as director of regulatory and product development for PPD Development and later...
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- PPD Announces Agreement to Acquire Pharmacogenetics Company
- Press release article from: PR Newswire November 17, 1997 700+ words
...initial forecasts, PPD expects that the...Pharmaceutical Product Development, Inc. and its...upon request from PPD's investor relations...Pharmaceutical Product Development, Inc. -0- 11...Pharmaceutical Product Development, Inc., simply...Financial Officer, of ...
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- Press release article from: PR Newswire February 4, 2000 700+ words
...receive royalties on sales of PPD Discovery diagnostic and...strategic expansion of the PPD business model to encompass...discovery resources and virtual product development," said Fred Eshelman, chief executive officer at PPD. "We expect genomics...