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Medical News Article on PPD, Inc.



PPD Reports First Quarter 2008 Financial Results



2008 MAY 5 -- PPD, Inc. (Nasdaq: PPDI) reported its financial and operating results for the first quarter ended March 31, 2008.

PPD recorded net revenue of $396.2 million for the first quarter of 2008, an increase of 19.3 percent over net revenue of $332.3 million for the first quarter of 2007. First quarter 2008 net revenue included a $15.0 million milestone payment triggered by the FDA's acceptance of Takeda Pharmaceutical Company Limited's new drug application (NDA) for alogliptin, a highly selective DPP-4 inhibitor for the treatment of type 2 diabetes.

Income from operations for first quarter 2008 was $67.9 million, compared to income from...

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