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Development segment revenue was $335.4 million (-7%). Discovery sciences segment revenue was $5.7 million (-64%).
April 22, 2009
By: Tim Wright
Editor-in-Chief, Contract Pharma
PPD 1Q 1Q Revenues: $364.9 million (-7%) 1Q Earnings:$44.6 million (+11%) Comments: Development segment revenue was $335.4 million (-7%). Discovery sciences segment revenue was $5.7 million (-64%), which included two milestone payments from Janssen-Cilag totaling $5.0 million. New business authorizations for the quarter totaled $579.7 million. Contract cancellations and adjustments for the quarter were $214.6 million, including a $76.9 million cancellation from a large biotech client fo...
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