Thermo Fisher buys PPD for $17.4 billion in Waltham giant's largest deal to date

Thermo Fisher buys PPD for $17.4b in Waltham giant’s largest deal to date
By Anissa Gardizy and Jonathan Saltzman Globe Staff,Updated April 15, 2021, 12:40 p.m.
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Thermo Fisher’s share price rose more than 3.4 percent Thursday, closing at $494.38.Thermo Fisher
Thermo Fisher Scientific, the Waltham laboratory equipment maker with the biggest market value of any Massachusetts company, said Thursday that it’s paying $17.4 billion for a North Carolina company that helps drug makers run clinical trials.
The cash deal to acquire PPD marks the latest merger involving companies that run trials and provide other services to the pharmaceutical industry. Although such “contract research organizations” lost business early in the pandemic, when many trials were put on hold, the industry has regained its footing, in part because of the testing of experimental COVID-19 vaccines and treatments.

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