Drug development contractor Pharmaceutical Product Development Inc. (NASDAQ: PPDI) said Monday it completed a $77 million buyout of BioDuro LLC, according to Associated Press.
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On Nov. 18, Pharmaceutical Product Development said it would buy BioDuro as part of a move to expand capabilities in China.
BioDuro is also a drug development contractor, providing services to the biotechnology industry. It has an 110,000-square-foot laboratory in Beijing, with 660 employees mainly in China.
Shares of PPD remained unchanged at $21.41 in afternoon trading.
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