has agreed to purchase InnoPharm to expand its CRO services into Russia and Ukraine. “With more than 143 million people in Russia alone, Eastern Europe is a high-growth market for clinical trials and a region PPD has targeted for expansion,” comments Fred Eshelman, CEO of PPD.
Innopharm is headquartered in Smolensk, Russia, and has offices in Moscow and St. Petersburg as well as Kiev, Ukraine. The firm offers Phase II-IV trials support, data management, and biostatistics services.
“We have subcontracted work to InnoPharm since 2004 and have great confidence in the team's clinical research capabilities and its commitment to quality,” Eshelman adds. “In addition to extending our geographic footprint and enhancing our ability to conduct global studies for our clients, we are gaining a high-caliber group of clinical research professionals.”
The acquisition is expected to close in the second quarter.