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Drug research firm PPD prices IPO at top end of target

NEW YORK, Feb 5 (Reuters) - Drug research firm PPD Inc on Wednesday priced its initial public offering (IPO) at $27 per share, according to a person familiar with the matter, at the high end of its target range.

The IPO valued North Carolina-based PPD at $9.16 billion. The company had aimed to sell 60 million shares at a target price range of $24-$27 per share.

Representatives for PPD did not immediately respond to a request for comment. (Reporting by Joshua Franklin in New York Editing by Chris Reese)