PPD, Pfizer: service agreement
Contract research organization PPD Inc. has signed a new three-year drug development agreement with pharma giant Pfizer Inc. Under the terms, the pharma company holds the right to extend for additional two-year periods.
The two companies currently work together, with PPD advising in clinical development and lab activity to support Pfizer’s drug development initiatives in multiple therapeutic areas.
“United in purpose, we are committed to building on our long-standing relationship with Pfizer with innovative solutions, quality execution and the dedication of our talented teams to help Pfizer deliver exciting new therapies,” said David Simmons, PPD chairman and CEO. “We are privileged to take the next steps together and contribute to Pfizer’s initiatives to achieve a healthier world.”