RTTNews | Apr 14, 2021 09:50PM EDT

21:49 Wednesday, April 14, 2021 (RTTNews.com) - Thermo Fisher Scientific Inc. (TMO) is nearing a deal to buy pharmaceutical-testing company PPD Inc. (PPD) for more than $15 billion, the Wall Street Journal reported citing people familiar with the matter.

The companies could finalize a deal as soon as this week, assuming the talks don't fall apart, the report said.

Wilmington, North Carolina-based PPD, with a market cap around $15.09 billion, is a contract-research company, running drug trials for pharma companies as well as providing lab services.

PPD closed Monday regular trading at $43.00 up $4.64 or 12.10%. In the after-hours trade, the stock further gained $1.10 or 2.56%.

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