Over the past several years, there have been many changes in the pharmaceutical industry, as our clients strive to maximize the return on their research & development investments. One area of change has been the extension of payment terms required of biopharmaceutical industry service providers, such as PPD. Refusal to accept increased payment terms comes with the risk of losing current and future business. In response, we have determined that an adjustment to our vendor payment terms was required to more closely align with that of our clients.
PPD’s standard payment terms for vendors are, with few exceptions, net 60 days.
Accelerated payment programs are currently only available in the U.S. at present. Vendors providing goods and services to PPD’s U.S locations have the option to enroll in PPD’s accelerated payment program by contacting the procurement or accounts payable department for additional information.