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Pfizer 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.

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Tina  Dunne
30/05/2011 10:21:35
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