PPD announced on August 3, 2020 that it has signed a three-year agreement with Pfizer to provide drug development services to advance Pfizer’s portfolio. Financial details of the deal were not disclosed.

According to a PPD press release, the new agreement will coincide with the companies’ current relationship in which PPD provides development and laboratory services to Pfizer’s drug development initiatives across multiple therapeutic areas.

“United in purpose, we are committed to building on our long-standing relationship with Pfizer with innovative solutions, quality execution, and the dedication of our talented teams to help Pfizer deliver exciting new therapies,” said David Simmons, PPD’s chairman and CEO, in the press release. “PPD is strategically positioned to continue supporting Pfizer in its pursuit of breakthroughs that change patients’ lives. We are privileged to take the next steps together and contribute to Pfizer’s initiatives to achieve a healthier world.”

Deals, Development and Manufacturing

Development

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PPD announced it will provide drug development services to advance Pfizer’s portfolio.