WILMINGTON, N.C., (July 17, 2012) - Pharmaceutical Product Development, LLC (PPD) today announced the appointment of Louis Renzetti, Ph.D., as vice president of strategic laboratory operations.
"Lou brings strong pharmaceutical expertise to help us build and strengthen our strategic lab partnerships with pharma, biotech, academia and government clients," said Lee Babiss, Ph.D., PPD's executive vice president of global lab services and chief scientific officer. "His leadership will be instrumental as we continue implementing innovative new strategies to integrate our laboratory and Phase I services with our Phase II-IV services to provide clients with end-to-end, value-chain capabilities."
Dr. Renzetti's experience includes more than 20 years of leadership and accomplishments in drug discovery as a pharmacologist, drug development specialist and therapeutic area leader. Prior to joining PPD, Dr. Renzetti served at Roche in a series of senior leadership positions, most recently as vice president and global head of the RNA therapeutics division. There, he led the company's efforts to advance a revolutionary therapeutic platform to treat severe diseases such as cancer.
Dr. Renzetti completed postdoctoral training in pharmacology at ICI Pharmaceuticals, now part of AstraZeneca. He earned a doctorate degree in physiology from Temple University School of Medicine and a bachelor's degree from the University of Pennsylvania.
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 46 countries and more than 12,000 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's appointment of Louis Renzetti, Ph.D., as vice president of strategic laboratory operations, 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 that could cause future results to differ materially include the following: the ability to attract, integrate and retain key personnel, including our new chairman and CEO; competition in the outsourcing industry; 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; 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; risks associated with and dependence on strategic relationships; actual operating performance; the ability to control SG&A spending; risks associated with acquisitions and investments; compliance with drug development regulations; rapid technological advances that make our services less competitive; and changes in the regulation of the drug development process. 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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