Pharmaceutical Product Development (PPD) of Wilmington on Tuesday announced the completion of its acquisition of Maryland-based Evidera, a provider of evidence-based solutions to demonstrate the effectiveness and value of biopharmaceutical products.
 
The planned acquisition was first announced a month ago.
 
The acquisition unites two best-in-class research companies, creating opportunities for clients of PPD and Evidera to generate evidence of product value that helps optimize market access for new health technologies, officials said. The companies will create a set of services across the drug development continuum that will enhance biopharmaceutical companies’ ability to deliver life-changing therapies to patients, according to a PPD news release.
 
“We don’t expect any immediate impact on our day to day operations or staffing,” said Peter Marangos, Evidera spokesman. “Evidera’s leadership team remains in place, and we will continue to operate as we have out of all of our current office locations.”
 
Evidera has office locations in North America and Europe.
 
Evidera will become a wholly owned subsidiary of PPD and serve as the late-stage business unit of the company, according to Tuesday’s news release. Evidera provides health information and research services that demonstrate evidence of product value for life sciences companies and inform healthcare decision-making processes.
 
“By leveraging Evidera’s scientific research and consulting capabilities and PPD’s operational excellence in global clinical research, our clients can greatly enhance their ability to navigate today’s complex and fast-evolving R&D and reimbursement landscape,” said David Simmons, chairman and CEO of PPD, in an news release. “For biopharma companies, our considerable joint expertise will benefit clients in executing comprehensive development strategies for regulatory success, while in parallel collecting the necessary evidence to support discussions with payers and health authorities on pricing and reimbursement. These combined strengths will further support clients in bringing innovative therapies to patients in need.”
 
Jon Williams, who will continue in his role as president of Evidera, added: “Demonstrating product value and effectiveness in real-world settings is increasingly critical for the biopharma industry to justify access and reimbursement. Evidence-based value demonstration must be well integrated with, and begin early in, the clinical development process, as payers, health authorities and providers increasingly have set this as a condition for market access. Until today, biopharma companies had limited options for partners with the required expertise. But by marrying a best-in-class CRO with a best-in-class real-world research and market access company, we are providing transformative opportunities for our clients to demonstrate the value of their products.”
 
PPD currently has offices in 46 countries and more than 17,000 employees worldwide. It began in 1985 as a one-person consulting firm.
 
Evidera was originally created as an independent company under the ownership of Symphony Technology Group (STG) in 2013.
 
In addition to its U.S. headquarters in Bethesda, Maryland, Evidera has European headquarters in London, and primary offices in Boston, Budapest, Harrisburg, Montreal, San Francisco and Seattle.
 
The financial terms of the acquisition were not disclosed.