Pfizer has selected PAREXEL International and ICON plc as preferred providers for clinical trial services. PAREXEL will work with Pfizer under a five-year agreement to provide clinical development services and expertise on a global basis combined with its eClinical technology platform.

Under the partnership agreement with ICON, Pfizer will leverage ICON’s expertise in the areas of program initiation and management, site and country feasibility, data management and reporting set-up, program study drug logistics, scientific and medical communications, and quality assurance. Pfizer will retain scientific ownership of the clinical development process, and maintain oversight and quality standards relating to patient safety and regulatory compliance. Both partnership models will be implemented over an 18-24 month period beginning in June 2011.

“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 through outsourcing of certain R&D services. We are creating partnerships for activities that can be performed most effectively and efficiently outside of the company, and have selected PAREXEL because it is a leader in providing combined technology and clinical capabilities,” said John Hubbard, senior vice president, Worldwide Development, Pfizer.

“We look forward to providing innovative solutions and expertise to help Pfizer accelerate clinical trials and accomplish its development goals. PAREXEL is proud to be selected as a strategic partner and will work collaboratively with Pfizer to create significant value,” said Josef von Rickenbach, chairman and chief executive officer, PAREXEL. “We are focused on applying best-practice operational models, supported by a combination of our eClinical solutions and clinical processes, to help Pfizer reduce the time and cost of development. Leveraging our global resources and worldwide technology infrastructure, we can enable more effective information flow and improve data access, which results in greater visibility into trials — and ultimately in better decision making.”

Peter Gray, chief executive officer at ICON, said, “This announcement is another significant indicator of ICON’s ability to partner with major companies in helping them transform their drug development model and validates the investments that we are making to capitalize on the changing market environment. We look forward to working with Pfizer to help realize their development pipeline and expect that over time our partnership will have a significant positive impact on ICON’s future growth.”