Parexel CEO reflects on Pfizer deal

By Gareth Macdonald

- Last updated on GMT

Related tags Von rickenbach English-language films Josef von rickenbach

Parexel CEO reflects on Pfizer deal
Parexel CEO Josef von Rickenbach predicts more Big Pharma strategic partnerships.

Von Rickenbach spoke with about the new strategic deal Parexel signed with Pfizer last week.

He described the deal with Pfizer, which will focus on the provision of trial services, as a “nice win” for Parexel that will help the firm achieve a double digit growth rate by spring of next year.

Von Rickenbach added that, while details of the accord are still to be worked out, he does not expect early-phase development to be a core focus and added that the previously announced plan to reduce the CRO's Phase I capacity was still necessary.

He also said that it is too early to say if the partnership will involve the transfer of assets and personal or if Parexel is one of the CROs Pfizer hopes to install at the R&D facility in Sandwich, UK that it plans to close in 2012​.

Strategic deals

Von Rickenbach also spoke about the wider trend for strategic partnerships between CROs and pharmaceutical developers, explaining that deals the firm already has in place are “working out better then our clients expected”.

My anticipation is that you will continue to see this trend play out. I think maybe we are a third into it and I would not be surprised if we see several more Big Pharmas adopt similar partnerships.”

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