US Drugs Company Set to Buy Bulgaria Research Organization

Business | February 10, 2009, Tuesday // 00:00| Views: | Comments: 0

US pharmaceutical company PPD is set to buy AbCRO, a Bulgaria-based contract research organization, as it hopes to expand its contract drug testing business in Central and Eastern Europe, reported late Monday.

US based PPD, which helps drugmakers test new medicines, employs about 10,500 worldwide, including about 1,700 in Morrisville, US.

The acquisition, which is expected to be completed by the end of March, will gain PPD entry into Romania, Bulgaria, Serbia and Croatia and bolsters PPD's existing operations in Poland, Russia and the Ukraine.

Founded in 2000, AbCRO provides Phase II through IV testing, including clinical trial management and monitoring, patient recruitment, site identification and regulatory affairs. The company employs more than 230 people, many of whom have worked with PPD in the past three years.

Financial details of the deal have not yet been disclosed.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Advertisement All Are Welcome! Join Now!
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria