PPD Confirms Takeda’s NDA Filing of Alogliptin with U.S. Food and Drug Administration

WILMINGTON, N.C., Feb. 28 - PPD, Inc. (Nasdaq:
PPDI) today confirmed that Takeda Pharmaceutical Company Limited’s new drug
application (NDA) for alogliptin, a highly selective DPP-4 inhibitor for
the treatment of type 2 diabetes, has been accepted for filing by the U.S.
Food and Drug Administration. PPD partnered with Takeda to develop the
compound.

    Under PPD’s agreement with Takeda, the FDA’s acceptance of the NDA
filing triggers a $15 million milestone payment to PPD. This milestone
payment was included in PPD’s previously issued 2008 financial guidance.

    “We are pleased to partner with Takeda, one of the leading
pharmaceutical companies in the area of diabetes,” said Fred Eshelman,
PPD’s chief executive officer. “We are also delighted that this important
regulatory milestone has been achieved as a result of close cooperation
between Takeda and our company.”

    PPD is a leading global contract research organization providing
discovery, development and post-approval services as well as compound
partnering programs. Our clients and partners include pharmaceutical,
biotechnology, medical device, academic and government organizations. With
offices in 30 countries and more than 10,200 professionals worldwide, PPD
applies innovative technologies, therapeutic expertise and a commitment to
quality to help its clients and partners maximize returns on their R&D
investments and accelerate the delivery of safe and effective therapeutics
to patients. For more information, visit our Web site at
http://www.ppdi.com.

    Except for historical information, all of the statements, expectations
and assumptions contained in this news release, including expectations and
assumptions about the alogliptin NDA filing with the FDA, subsequent
milestone payments for regulatory approvals for alogliptin, if any, the
continued development and commercialization of this drug candidate and the
value of this collaboration with Takeda, are forward-looking statements
that involve a number of risks and uncertainties. Although PPD attempts to
be accurate in making these forward-looking statements, it is possible that
future circumstances might differ from the assumptions on which such
statements are based. In addition, other important factors which could
cause results to differ materially include the following: risks associated
with the development and commercialization of drugs, including obtaining
regulatory approvals; risks associated with and dependence on collaborative
relationships; rapid technological advances that make our products and
services less competitive; continued success in sales growth; loss of large
contracts; increased cancellation rates; economic conditions and
outsourcing trends in the pharmaceutical, biotechnology, medical device,
academic and government industry segments; competition within the
outsourcing industry; the ability to attract and retain key personnel;
risks associated with acquisitions and investments, such as impairments;
risks that we may not continue our dividend policy; and the other risk
factors set forth from time to time in the SEC filings for PPD, copies of
which are available free of charge upon request from the PPD investor
relations department.

    Contacts
    Media:
    Sue Ann Pentecost
    +919 456 5890
    sueann.pentecost@rtp.ppdi.com

    Analysts/Investors:
    Craig Eastwood
    +910 558 7585
    craig.eastwood@wilm.ppdi.com

SOURCE PPD, Inc.