PPD enters into joint venture with Japanese company

Wilmington-based Pharmaceutical Product Development, one of the nation's biggest drug testing companies, said Wednesday it has entered into a joint venture with Japan's Shin Nippon Biomedical Laboratories.

The joint venture, to be named PPD-SNBL, combines PPD's clinical development operations in Japan with SNBL's clinical research division. It will be majority-owned by PPD, employing 400 clinical development professionals in Tokyo, Osaka and Kagoshima.

The joint venture will focus on clinical trial monitoring, project management, statistics, regulatory services and other aspects of testing experimental drugs for commercial approval.

The collaboration will also include early-stage drug work, licensing and studies in neuroscience, vaccines and biologics.

The financial terms of the deal were not disclosed. PPD has offices in 46 countries and employs more than 13,000 people worldwide, including about 1,600 in the Triangle.