Thermo Fisher CEO Sees PPD Buy as ‘All About Speed’ in New Drugs

Thermo Fisher Scientific Inc.’s $17.4 billion acquisition of PPD Inc., a provider of clinical and research services to the pharma and biotech industries, is “all about speed” in getting medicines to market.

That’s the message from Thermo Fisher Chief Executive Officer Marc Casper in outlining the company’s goals for the deal. Thermo Fisher will pay $47.50 a share for PPD, according to a statement Thursday, and will assume about $3.5 billion of net debt. The price represents a premium of about 24% to PPD’s closing price Tuesday, before reports of a possible deal.

Companies like PPD that offer ...