Drug development contractor Pharmaceutical Product Development Inc. said Monday it completed a $77 million buyout of BioDuro LLC.
On Nov. 18, Pharmaceutical Product Development said it would buy BioDuro as part of a move to expand capabilities in China.
BioDuro is also a drug development contractor, providing services to the biotechnology industry. It has a 110,000-square-foot laboratory in Beijing, with 660 employees mainly in China.
Shares of PPD rose 11 cents to $21.52 in morning trading.