LabCorp in talks to buy PPD for $8Bn
![LabCorp in talks to buy the CRO PPD for $8Bn](/var/wrbm_gb_food_pharma/storage/images/_aliases/wrbm_large/7/4/8/2/1422847-1-eng-GB/LabCorp-in-talks-to-buy-the-CRO-PPD-for-8Bn.jpg)
According to a Reuters report, a second party is taking part in the auction of PPD with LabCorp, but has not yet been identified.
If LabCorp was to acquire PPD, the transaction's value would exceed the $5.7bn for which it purchased Covance in 2015.
PPD offers contract research services from inhalation products to biologics, for a wide range of indications, with headquarters in Wilmington, North Carolina.
The firm has more than 18,500 employees worldwide and is owned by Carlyle Group LP and Hellman & Friedman LLC, which made the company private in 2011 for $3.9bn.
LabCorp is a North Carolina, US-based clinical lab network with a $14.3bn (€13.3bn) market cap. Last month, it acquired Mount Sinai’s clinical outreach laboratories, adding seven patient service centers to its network.