PULSE 2021 PHOTO BY SUZI DRAKE
A pharma evolution PPD GROWS FROM SMALL BUSINESS INTO $17.4B DEAL
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BY SCOTT NUNN
PD OPENED FOR BUSINESS IN 1985 WITH ONE EMPLOYEE – COMPANY FOUNDER FRED ESHELMAN, A PHARMACIST WITH A BIG VISION. WHEN THE CARLYLE GROUP BOUGHT THE FIRM IN A $3.9 BILLION DEAL IN 2011, PPD WAS OPERATING IN 33 COUNTRIES AND EMPLOYED 10,000 WORKERS. The company’s success not only solidified Wilmington’s reputation as a hub for contract research firms, but its shiny, modern 12-story headquarters was a vital part of the transformation of the northern riverfront area. Now with 26,000 employees (including 1,800 locally), the homegrown company is about to become part of something even bigger, after the announcement in April that it would be purchased by Thermo Fisher Scientific (TFS). Massachusetts-based TFS has 80,000 employees and supplies a host of products, equipment and services to health care and life-sciences organizations. While TFS sells lab equipment and is involved in drug manufacturing, PPD strictly provides
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