Monday, July 18, 2011

Pharmaceutical Product Development Rallies On Buyout Rumor

Shares of Pharmaceutical Product Development Inc. (NASDAQ: PPDI) jumped more than 16% on Monday after the Wall Street Journal reporte that the company is exploring a potential sale, citing people familiar with the matter. With a market capitalization of about $3.2 billion, PPD, as the Wilmington, N.C.-based company is known, could fetch bids from both private-equity and larger clinical-research providers, these people said. They also cautioned that PPD could still change its plans.

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