Thermo Fisher Scientific completes acquisition of Wilmington-based PPD

WILMINGTON, NC (WWAY) — PPD’s acquisition by Thermo Fisher Scientific is finally complete.

According to the company’s website, the sale was for $17.4 billion. Thermo Fisher expects the transaction to contribute $1.50 to its adjusted earnings per share next year.

“We are very excited to officially welcome our PPD colleagues to Thermo Fisher Scientific,” Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific, wrote in a release. “Expanding our value proposition for our biotech and pharmaceutical customers with the addition of PPD’s leading clinical research services advances our work in bringing life-changing therapies to market, benefitting patients around the world.”

PPD’s common stock ceased trading on NASDAQ prior to the opening of trading on Wednesday. PPD will become part of Thermo Fisher’s laboratory products and services segment.

With the addition of PPD, Thermo Fisher says it will now offer a comprehensive suite of services across the clinical drug product development spectrum.