Firm says outsourcing specific R&D services will allow it to focus on clinical trial design.
Pfizer has selected Boston-based Parexel, and Dublin, Ireland-based Icon, as its two preferred CROs for the provision of clinical development and trials services. The partnership agreements will be phased in over an 18–24-month period and will initially run for five years. Pfizer says the deals are in line with its remodeled R&D strategy, which involves partnering with third parties for services such as the implementation of clinical development programs. This will enable Pfizer to focus internally on its core strength in clinical trials design.
“This new strategic partnership model is part of a comprehensive program to sharpen our research focus at Pfizer and creates a more flexible cost-base,” comments John Hubbard, svp for worldwide development at Pfizer.
Under terms of the agreements, Pfizer will retain scientific ownership of clinical development processes and retain an overseeing role. Its new partners will provide their respective expertise in carrying out and managing global clinical trials, evaluating trail sites and countries, and optimizing and implementing data management, as well as reporting setup, fronting scientific and medical communications, and maintaining quality assurance.