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PPD reports third quarter 2006 financial results; net revenue up

Published in Law and Health Weekly, November 18th, 2006

PPD, Inc. (PPDI) reported its financial and operating results for the third quarter with net revenue of $313.1 million for the third quarter of 2006, an increase of 14.6 percent over net revenue of $273.3 million for the third quarter of 2005.

Net revenue for the third quarter 2006 included reimbursed out-of-pocket expenses of $23.3 million, compared to $18.7 million for the same period in 2005.

PPD did not receive any payments on discovery programs or transactions in the third quarter of 2006, but third quarter 2005 net revenue included the $15.0 million upfront payment from Takeda related to the July 2005 transfer of the development and...

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