Pharmaceutical Product Development, LLC to Invest Nearly $64 Million in Henrico

HENRICO, VA – Pharmaceutical Product Development, LLC (PPD), a leading global contract research organization, will invest $63.7 million to expand its bioanalytical lab in Henrico, Virginia. The move will also create 200 new jobs for the Richmond area.

“We’re excited that PPD has chosen to remain in Henrico and grow their business. The decision speaks volumes about the pipeline of tech talent in our region,” says Anthony Romanello, Executive Director of the Henrico Economic Development Authority. “Virginia Commonwealth University is a top 100 medical school in research and primary care, and its Medical Center is the largest in our state.

“Equally as exciting is the fact that Henrico can be the location of choice for women in STEM. Women comprise only 28 percent of today’s science and engineering workforce, but 37-year-old females make up the largest part of PPD’s employee base. This expansion is a premier opportunity for women in life sciences to cultivate and grow their careers in Henrico.”

PPD’s clients and partners include pharmaceutical, biotech, medical device, academic and government organizations. The organization combines innovative technology, therapeutic expertise and a commitment to quality to improve health. It operates in 48 countries and employs more than 21,000 professionals.

“The Richmond region is a great place for our employees to live and work,” said Christopher Fikry, M.D., executive vice president of PPD® Laboratories. “Today, we employ more than 1,000 life science professionals in Henrico County, and our bioanalytical, biomarker, and vaccine sciences operations here cover more than 250,000 square feet. We appreciate the collaborative partnership we have with the Commonwealth of Virginia and Henrico County, which has helped us steadily grow our operations supporting the development of new medicines, while increasing employment in this vibrant and thriving community.” 

Read governor’s press release.

Read company press release.