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Also achieves NGSP certification required for standardized diabetes testing
WILMINGTON, N.C. (April 27, 2009) - PPD, Inc. (Nasdaq: PPDI) today announced its global central lab operations in Beijing has earned accreditation by the College of American Pathologists (CAP), making it the company's third central lab to meet the highest standard of excellence in enhancing patient safety and speeding drug development.
The CAP Laboratory Accreditation Program is an internationally recognized program using rigorous accreditation standards to help laboratories advance the quality of laboratory services to improve patient care. The program uses multidisciplinary teams of practicing lab professionals as inspectors who assess management and operations of laboratories, extending beyond regulatory requirements.
"Earning CAP accreditation at our Beijing partner lab validates our commitment to deliver high-quality, reliable data to our clients in a high-growth region for global clinical research," said Steve Lobel, Ph.D., vice president of PPD's global central laboratory operations. "This accreditation demonstrates our dedication to excellence in providing a broad range of laboratory testing capabilities and the expertise of our global team."
PPD's Beijing lab also earned certification by the National Glycohemoglobin Standardization Program (NGSP), a standard requirement for hemoglobin A1c testing key to diabetes clinical research.
PPD expanded its global central lab services into China last year through an exclusive agreement with Peking Union Lawke Biomedical Development Limited and immediately began providing biopharmaceutical clients its full range of highly customized central lab services.
In addition to Beijing, PPD operates central labs in Highland Heights, Ky., and Brussels, Belgium. The company is opening a global central lab facility in Singapore this year based on growing client demand in Southeast Asia.
PPD is a leading global contract research organization providing discovery, development and post-approval services as well as compound partnering programs. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 38 countries and approximately 10,500 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help its clients and partners maximize returns on their R&D investments and accelerate the delivery of safe and effective therapeutics to patients. For more information, visit our Web site at http://www.ppdi.com.
Except for historical information, all of the statements, expectations and assumptions contained in this news release, including expectations and assumptions about the accreditation of PPD's global central lab in Beijing, China, are forward-looking statements that involve a number of risks and uncertainties. Although PPD attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors which could cause results to differ materially include the following: risks associated with and dependence on collaborative relationships; the ability to attract and retain key personnel; rapid technological advances that make our products and services less competitive; continued success in sales growth; loss of large contracts; increased cancellation rates; economic conditions and outsourcing trends in the pharmaceutical, biotechnology, medical device, academic and government industry segments; competition within the outsourcing industry; risks associated with the development and commercialization of drugs, including earnings dilution and obtaining regulatory approval; risks associated with acquisitions and investments, such as impairments; risks that we may not continue our dividend policy; and the other risk factors set forth from time to time in the SEC filings for PPD, copies of which are available free of charge upon request from the PPD investor relations department.
Contacts
Media:
Sue Ann Pentecost
+919 456 5890
sueann.pentecost@rtp.ppdi.com
Analysts/Investors:
Luke Heagle
+910 558 7585
luke.heagle@wilm.ppdi.com
