ICON Selected by Pfizer as a Global Strategic Partner for Clinical Research and Development

ICON plc, (NASDAQ: ICLR; ISIN: IE0005711209), a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, today announced a strategic partnership with Pfizer Inc. (NYSE:PFE) which will see it serve as one of two preferred providers of clinical trial implementation services.

The new partnership is part of Pfizer’s 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. To be fully implemented over an 18 to 24 month period, the partnership will enable Pfizer to focus internally on its core capability in clinical trial design, while leveraging the strengths and scale of ICON to implement clinical development programs with greater efficiency and rigor.

Under the partnership agreement, Pfizer will retain scientific ownership of the clinical development process, and maintain strict oversight and quality standards relating to patient safety and regulatory compliance. 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.

Peter Gray, CEO at ICON plc, commented, “Today’s 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 capitalise on the changing market environment. We look forward to working with Pfizer to help realise their development pipeline and expect that over time our partnership will have a significant positive impact on ICON’s future growth.”