WILMINGTON, N.C. (July 31, 2012) - Pharmaceutical Product Development, LLC (PPD) has earned the highest ratings in customer loyalty, overall value and several other attributes for Phase I services according to an Industry Standard Research (ISR) study, which evaluated 12 Phase I providers across nine key areas.
In its new report, "2012 CRO Quality Benchmarking - Phase I Service Providers," ISR surveyed 61 pharmaceutical executives responsible for Phase I outsourcing. In the survey, PPD received the highest rating for customer loyalty, a result of its top scores for overall satisfaction, willingness to recommend and likelihood to use again. In addition, PPD received the highest marks for five of ISR's nine service attributes, including overall value, technical expertise, breadth of services, meeting schedules and timelines, and quality of the Phase I unit's lead investigator-demonstrating that the company's performance surpasses customer expectations.
"Our Phase I team is committed to assuring the safety of our volunteers and providing the highest level of service for our clients, and ISR's data affirms the outstanding efforts of this team," said Lee Babiss, Ph.D., executive vice president of global lab services and chief scientific officer for PPD. "The long tenure and expertise of our management team are key differentiators for PPD and are critical factors in the overall value we deliver our clients."
PPD has one of the world's largest Phase I clinics and has been performing Phase I studies on normal healthy volunteers for 27 years. With a state-of-the-art, 300-bed facility located in Austin, Texas, the clinic has the capability to conduct multiple studies simultaneously across all therapeutic areas.
ISR is a full-service market research provider to the pharmaceutical and pharmaceutical services industries. In addition to the ratings, the Phase I services report includes an analysis of biopharmaceutical companies' Phase I outsourcing behaviors, attitudes, beliefs and intentions. It also ranks characteristics that are used to select clinical pharmacology service providers.
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 Phase I clinic and its rating by ISR, 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; compliance with drug development regulations; changes in the regulation of the drug development process; rapid technological advances that make our services less competitive; actual operating performance; 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; and the ability to control SG&A spending. 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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