Shares in PPD closed up 10 per cent yesterday after reports emerged it is considering selling to a private equity buyer or other contract research organisation (CRO). In response, PPD, which says its policy is not to comment on speculation, has published a statement.
Fred Eshelman, executive chairman at PPD, said: “We are looking at our long-term plan and our capital structure to see if there are any actions, which might create value at this time. We are not engaged in any discussions around a combination with other clinical research providers.”
Management has begun a review of the strategic plan and capital structure at the request of the board of directors. The complete statement is available in this filing with the US Securities and Exchange Commission.