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Strategies & Market Trends : LastShadow's Position Trading
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To: LastShadow who wrote (23262)10/12/1999 9:01:00 AM
From: AlienTech  Read Replies (1) of 43080
 
PPDI is down because the COO is leaving.. Guess no one here follows any CRO's..

HOW COULD YOU HAVE FOUND THIS DOUBLE?

Getting a drug approved for use in the U.S. can take 10 to 15 years and around $369 million. The CRO market has developed to serve the pharmaceutical and biotech firms in this arduous process that starts with pre-clinical testing, moves to human clinical trials, and ends (hopefully) with regulatory approval.

To reduce costs and expedite the development process, pharmaceutical and biotech firms now outsource an increasing amount of this work. Some industry sources suggest that about $40 billion was spent on drug-related R&D last year, with at least half of that of the sort provided by CROs. About $4 billion of this went to contract researchers.

PPD is one of a handful of large CROs conducting virtually the entire range of needed services. Though its revenue growth has trailed others in this consolidating sector, its size alone might have suggested that it would continue to benefit from the concurrent trends driving the creation of giant CROs.

At $12 1/4, the stock traded at less than 20 times trailing earnings, which is a bargain for a sector expecting long-term growth in the 20% to 25% range.

fnews.yahoo.com
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