Parexel, a provider of services from clinical through commercialization, has signed a new master service agreement (MSA) with Pfizer Inc. This continues the companies decade-long strategic partnership. The agreement is for a three-year term with an option to extend for an additional two years.

The strategic focus of the new agreement is focused on driving cycle times for Pfizer’s development efforts. Parexel will provide clinical development services via full-service, hybrid and functional service provider (FSP) models across all therapeutic areas, including rare diseases, oncology, inflammation and immunology and internal and hospital-based medicines.

“We are pleased to have the opportunity to continue partnering with Pfizer in their mission to deliver break-through therapies for patients,” said Jamie Macdonald, Chief Executive Officer.

“Pfizer’s mission aligns perfectly with Parexel’s focus on putting the patient at the heart of everything we do and we have seen positive results from this alignment over our long-term relationship. We look forward to continuing to work with Pfizer to advance their important clinical development programs for the benefit of patients.”