The Competition and Markets Authority has cleared the anticipated acquisition of PPD Inc by Thermo Fisher Scientific Inc.
Thermo Fisher announced plans to acquire PPD in April 2021 for around $17 billion. The CMA launched its inquiry in October.
PPD provide services to the biopharma and biotech industry and is recognized as a global industry leader in accelerating promising medicines from early development through regulatory approval and market access. They will now become part of the Laboratory Products and Services unit of Thermo Fisher.
“The acquisition of PPD is a natural extension for Thermo Fisher and will enable us to provide these customers with important clinical research services and partner with them in new and exciting ways as they move a scientific idea to an approved medicine quickly, reliably and cost effectively,” said Marc N. Casper, CEO of Thermo Fisher.