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Business
PPD Agrees To Buy And Sell Businesses
by Alexander H. Tullo
April 13, 2009
| A version of this story appeared in
Volume 87, Issue 15
Contract research and drug development firm PPD has agreed to sell its Piedmont Research Center to the contract R&D firm Charles River Laboratories for $46 million in cash. Located in North Carolina, the center provides preclinical research and evaluates anticancer agents. To boost its remaining operations, PPD has acquired Magen BioSciences for $14.5 million. Waltham, Mass.-based Magen develops dermatologic therapies for psoriasis, atopic dermatitis, and acne. The biotech firm has an exclusive license to develop and commercialize preclinical compounds discovered by Eli Lilly & Co. for dermatologic therapeutics.
The power is now in your (nitrile gloved) hands
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