Pfizer Announces New Strategic Partnerships with ICON and PAREXEL International Corporation

PfizerPfizer Inc. announced strategic partnerships with ICON plc and PAREXEL International Corporation, both of which will serve as strategic providers of clinical trial implementation services over a five-year period beginning in June 2011. The new partnerships will be fully implemented over an 18-to-24 month period.

The ICON and PAREXEL alliances reflect Pfizer's recent commitment to strengthen the performance of its innovative core. Pfizer announced in February a comprehensive program of change in R&D to sharpen research focus, deliver differentiated innovation, and create a more flexible cost base through external partnerships for certain R&D services. The new partnership model for clinical trial execution will enable Pfizer to focus internally on its core capability in clinical trial design, while leveraging the strengths and scale of ICON and PAREXEL to implement clinical development programs with greater efficiency and rigor. Going forward, Pfizer's externalization efforts will make it possible to adjust investment and activity according to the changing needs of the portfolio.

"We conducted a thorough selection process to find the right partners and selected ICON and PAREXEL because of the strength of their services and their steadfast commitment to quality and regulatory compliance, a deep belief in collaboration, and a strong drive to deliver success," said John Hubbard, Ph.D., senior vice president of Development Operations. The Pfizer partnership incentivizes ICON and PAREXEL to excel on four key parameters: quality, speed, cost management and innovation.

The new strategic partnership model does not substantially change the proportion of clinical trial implementation services that Pfizer outsources. Pfizer will retain scientific ownership of the clinical development process, and maintain strict oversight and quality standards relating to patient safety and regulatory compliance. "The two-partner model will simplify our processes, significantly reducing the number of external service providers we use for clinical trial execution, and clarify accountability in risk and quality management," said Dr. Hubbard.

Pfizer Inc.: Working together for a healthier world™
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world's best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world’s leading biopharmaceutical company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us.

About ICON plc
ICON plc is a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company specializes in the strategic development, management and analysis of programs that support clinical development - from compound selection to Phase I-IV clinical studies. ICON currently has approximately 7,700 employees, operating from 77 locations in 39 countries.

About PAREXEL International
PAREXEL International Corporation is a leading global bio/pharmaceutical services organization, providing a broad range of knowledge-based contract research, consulting, and medical communications services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. Perceptive Informatics, Inc., a subsidiary of PAREXEL, provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 71 locations throughout 52 countries around the world, and has approximately 10,350 employees.

Most Popular Now

Top 20 World Pharma News of 2016

Look back at the most prominent moments from the year 2016. We are proud to announce the 20 most popular World Pharma News from 2016, the most commonly viewed news accord...

Read more

Sanofi and Boehringer Ingelheim confirm Closing of…

Sanofi and Boehringer Ingelheim confirmed that the strategic transaction signed in June 2016, which consists of an exchange of Sanofi's animal health business (Merial) an...

Read more

Diabetes, heart disease, and back pain dominate US…

Just 20 conditions make up more than half of all spending on health care in the United States, according to a new comprehensive financial analysis that examines spending ...

Read more

FDA approves first drug for spinal muscular atroph…

The U.S. Food and Drug Administration has approved Spinraza (nusinersen), the first drug approved to treat children and adults with spinal muscular atrophy (SMA), a rare ...

Read more

Novartis invests in next generation therapies to r…

Novartis announced today a collaboration and option agreement with Ionis Pharmaceuticals, Inc. and its affiliate Akcea Therapeutics, Inc., to license two novel treatments...

Read more

Topical treatment activates immune system to clear…

A combination of two FDA-approved drugs - a topical chemotherapy and an immune-system-activating compound - was able to rapidly clear actinic keratosis lesions from patie...

Read more

Vaccine shows promising results for early-stage br…

Deregulation and inhibition of the immune system contributes to cancer development. Many therapeutic strategies aim to re-stimulate the immune system to recognize cancer ...

Read more

Bristol-Myers Squibb announces immunotherapy clini…

Bristol-Myers Squibb Company (NYSE:BMY) today announced a new clinical research collaboration with Janssen Biotech, Inc. to evaluate the combination of Bristol-Myers Squi...

Read more

Anti-aging therapies targeting senescent cells: Fa…

It's an exciting time to be an elderly mouse. Researchers believe that by removing senescent cells (cells with a persistent damage response), which naturally accumulate w...

Read more

Novo Nordisk and Glooko partner to develop digital…

Novo Nordisk and Glooko today announced that the two companies will work together to deliver jointly-developed and branded digital health solutions for people with diabet...

Read more

FDA grants Roche's cancer immunotherapy TECENTRIQ …

Roche (SIX: RO, ROG; OTCQX: RHHBY) announced that the U.S. Food and Drug Administration (FDA) has accepted the company's supplemental Biologics License Application (sBLA)...

Read more

AstraZeneca and Lilly to develop second potentiall…

AstraZeneca and Eli Lilly and Company have announced a worldwide agreement to co-develop MEDI1814, an antibody selective for amyloid-beta 42 (Aβ42), which is currently in...

Read more

Pharmaceutical Companies

[ A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Z ]