Pharmaceutical Product Development (PPD) is a global contract research organization (CRO) providing comprehensive, integrated drug development, laboratory and lifecycle management services. In December 2021, PPD became a wholly owned subsidiary of Thermo Fisher Scientific.
History
PPD was founded by Fred Eshelman, Pharm.D., as a one-person consulting firm in 1985. The following year, he expanded the company's scope to include development services and relocated operations from Maryland to North Carolina.
- July 1985: Fred Eshelman, Pharm.D., founds PPD as a one-person consulting firm based in his home in Maryland.
- 1986: Eshelman expands the company and relocates operations to Wilmington, North Carolina.
- January 1989: The company incorporates in North Carolina.
- January 1996: PPD issues its initial public stock offering and begins trading on the Nasdaq National Market System under the symbol PPDI.
- October 2005: PPD's board of directors adopts an annual cash dividend policy.
- July 2009: The company promotes Eshelman to executive chairman and names David Grange chief executive officer.[3]