WILMINGTON, N.C., (November 4, 2011) - Pharmaceutical Product Development, Inc. (Nasdaq: PPDI) today announced it has been named the best contract research organization by Scrip Intelligence, which also has honored PPD for deploying the best technological development in clinical trials.
Scrip presented both awards to PPD at the seventh annual Scrip Awards ceremony on November 3 in London. PPD was recognized for its expertise and innovation in helping clients develop life-changing medical treatments. The judging panel called PPD "a great organization - open for new approaches, even more for driving new technologies."
"At PPD, we share our clients' passion for delivering new therapies to help people live healthier lives," said Raymond Hill, chief executive officer of PPD. "These awards pay testament to the hard work, dedication and inspiration that our employees deliver every day to provide exceptional client service. We are committed to delivering consistent high quality, innovative ideas and forward-focused technologies that help our clients achieve their vision."
Launched in 1985 as a one-person consulting firm, today PPD is one of the world's leading contract research organizations. PPD has worked with 49 of the top 50 pharmaceutical companies to speed the delivery of life-changing therapies to people in need.
Scrip also recognized PPD's innovative technology solution, created in collaboration with Microsoft Corp., that improves the efficiency of managing Risk Evaluation and Mitigation Strategy (REMS) programs mandated by the U.S. Food and Drug Administration. Designed to improve patient safety, REMS programs help ensure the safe distribution and administration of certain marketed drugs.
The PPD REMS solution is a first-of-its-kind technology platform that integrates, manages and tracks all REMS resources, data and information. It is based on the Microsoft Amalga Unified Intelligence System, a data aggregation platform that gives healthcare professionals access to the information they need when they need it, and Microsoft HealthVault, a personal health application platform that lets consumers gather, store and share health information online.
"PPD's technology focus is to deliver solutions that provide meaningful advances for our clients," said Mike Wilkinson, executive vice president and chief information officer of PPD. "Our REMS solution builds on PPD's extensive strategic, scientific, operational and regulatory capabilities in designing and implementing comprehensive REMS and risk management programs."
The Scrip Awards acknowledge achievements across a broad range of areas in the pharmaceutical industry. Attracting hundreds of industry professionals from the world's leading pharmaceutical and biotechnology companies, the awards have become a distinct mark of superior achievement. Pharmaceutical, biotech and contract research organizations compete for awards in 15 categories, which are decided by an expert panel of judges.
Scrip's recognition is the most recent in a series of awards PPD has received this year. PPD earned the number one spot among contract research organizations in the 2011 CenterWatch global site survey. PPD also was named to the 2011 InformationWeek 500, an annual list of the most innovative users of business technology in the United States. In addition, PPD and ProtonMedia won a Microsoft 2011 Life Sciences Innovation Award for PPD® 3D, a virtual, collaborative environment improving the cost-effectiveness, speed and quality of training for clinical research associates.
PPD is a leading global contract research organization providing drug discovery, development and lifecycle management services. Our clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. With offices in 44 countries and more than 11,000 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help clients and partners accelerate the delivery of safe and effective therapeutics and maximize the returns on their R&D investments. For more information, visit www.ppdi.com.
Except for historical information, all of the statements, expectations and assumptions, including statements, expectations and assumptions about PPD in relation to the Scrip Awards, contained in this news release 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 and could cause actual results to differ materially from the forward-looking statements. Other important factors which could cause future results to differ materially include the following: overall global economic conditions; economic conditions, research and development spending, and outsourcing trends in the pharmaceutical, biotechnology and government-sponsored research sectors; consolidation in the pharmaceutical and biotechnology industries; competition in the outsourcing industry; PPD's ability to win new business; loss, delay or modification of large contracts; higher-than-expected cancellation rates; the rate of conversion of backlog into revenue; actual operating performance; fluctuations in currency exchange rates; the ability to attract, integrate and retain key personnel; risks associated with and dependence on strategic relationships; risks associated with acquisitions and investments, such as impairments and integration, including PPD's investment in Celtic Therapeutics; rapid technological advances that make our services less competitive; risks associated with fixed price contracts and cost overruns; compliance with drug development regulations; changes in the regulation of the drug development process; international economic and political risks; risks that we may increase, reduce or discontinue our annual dividend policy; and the ability to control SG&A spending. These and other PPD risk factors are set forth in more detail from time to time in our SEC filings, copies of which are available free of charge upon request from PPD's investor relations department. PPD assumes no obligation and expressly disclaims any duty to update these forward-looking statements in the future, except as required by applicable law. These forward-looking statements should not be relied upon as representing PPD's estimates or views as of any date subsequent to the date hereof.
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