Thermo Fisher buying PPD in deal worth $17.4 billion

WALTHAM, Mass. (AP) — Thermo Fisher is buying clinical research company PPD in a deal valued at $17.4 billion. Thermo Fisher Scientific Inc. will pay $47.50 per PPD share. The transaction also includes approximately $3.5 billion in debt. PPD offers a range of clinical research and laboratory services to help increase drug development productivity. Its revenue totaled $4.7 billion last year.