Our History
Helping to deliver life-changing therapies to improve health
From its beginnings in 1985 as a one-person consulting firm to its position today as a leading global provider of contract research organization (CRO) solutions, our history is shaped by its commitment to consistent quality and execution, exceptional customer-aligned service and continuous innovation to speed the overall execution of clinical trials.
The PPD™ clinical research business of Thermo Fisher Scientific has conducted clinical trials in more than 100 countries to help customers deliver life-changing therapies to improve health. We apply innovative technologies, therapeutic expertise and a firm commitment to quality to bend the cost and time curve of drug development and optimize value.
Our timeline
1985
Founded by Fred Eshelman, Pharm. D., as a one-person consulting firm
1986
Expands scope to include development services
1989
Incorporates in North Carolina
1995
Expands to Europe, the Middle East and Africa with acquisition of Gabbay Group, a CRO in the U.K.
1996
Initial public stock offering
Acquires Applied BioScience International, which includes Pharmaco and several European regional drug development companies
Expands to Latin America with acquisition of Brazil-based CRO
1997
Offers drug discovery services
Expands to Asia-Pacific region with opening of office in Australia
2001
Declares a one-for-one stock dividend
Expands to Asia-Pacific region with opening of office in Australia
2002
Acquires Medical Research Laboratories International, adding central lab services in North America, Europe, the Middle East and Africa to its offerings for clients
Acquires ProPharma, an Asian-based CRO, which significantly expands PPD’s footprint in Asia-Pacific
2005
Revenue exceeds $1 billion
2006
PPD board approves a two-for-one split of the company’s common stock
2007
10,000+ employees globally
2008
Purchases InnoPharm, a CRO based in Russia, expanding PPD’s global reach with offices in both Russia and Ukraine
2009
Acquires AbCRO, a CRO in Central and Eastern Europe, strengthening our presence in a high-growth, emerging region for clinical research
Expanded our presence in China significantly with acquisitions in that country
2010
Spins off its compound partnering division as Furiex Pharmaceuticals, an independent company
Celebrates 25th anniversary
2011
Acquired by affiliates of The Carlyle Group and affiliates of Hellman & Friedman
2013
Acquires Acurian, a leading full-service provider of clinical trial patient enrollment and retention solutions
2014
Announces agreement to form PPD-SNBL, a joint venture providing a full range of clinical development services in Japan
2015
Acquires network of U.S.-based research sites via Radiant
2016
Acquires Evidera, a leading provider of evidence-based solutions, establishing a global leader in real-world research
Acquires network of global research sites via Synexus
15,000+ employees globally
2017
Affiliates of The Carlyle Group and affiliates of Hellman & Friedman recapitalize PPD and add two new investors, Abu Dhabi Investment Authority and an affiliate of GIC
20,000+ employees globally
2018
Establishes Accelerated Enrollment Solutions (AES), a business unit that combines patient data and a network of clinical research sites
2019
Revenue exceeds $4 billion
AES acquires the clinical research site business of Bioclinica
2020
Initial public stock offering
Announces plans to expand operations in China by opening a multifunctional lab, along with enlarging existing and opening new clinical development offices
25,000+ employees globally
2021
30,000+ employees globally
Thermo Fisher Scientific completes acquisition of PPD
2022
35,000+ employees globally
2023
Thermo Fisher acquires CorEvitas, a leading provider of regulatory-grade, real-world evidence for approved medical treatments and therapies