Pfizer Announces Partnership With Two Companies

Pfizer, Inc announced Thursday that it will partner with ICON plc and PAREXEL International Corporation to provide clinical trial services for the next five years, starting next month.

The partnerships would be implemented over the next 18 to 24 months, the company said.

It was unclear what the impact of the partnership would be on the Groton campus.

“The two-partner model will simplify our processes, significantly reducing the number of external service providers we use for clinical trial execution, and clarify accountability in risk and quality management,” said a prepared statement by John Hubbard, Ph.D., senior vice president of development operations.

Pfizer is the largest taxpayer in Groton, and owned $597.3 million of taxable assessed value in 2010, accounting for 14.5 percent of the “grand list”, or the town's tax base.

The company announced in February it would cut up to 1,100 jobs within the next two years – 25 percent of its local workforce - in an effort to save costs and streamline operations.  Pfizer is the third largest employer in Groton, after the Naval Submarine Base and Electric Boat.

A news release by the company said the partnership would “enable Pfizer to focus internally on its core capability in clinical trial design," and leverage the strengths of the other companies.

"Going forward, Pfizer’s externalization efforts will make it possible to adjust investment and activity according to the changing needs of the portfolio,” the  release said.

The  partnership does not substantially change the amount of clinical trial services Pfizer outsources, the news release said.

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