Bristol-Myers Squibb Co. (BMY) said it has signed agreements to
partner with clinical-development-services companies Parexel
International Corp. (PRXL) and Icon PLC (ICLR, IJF.DB).
Financial terms of the deals weren't disclosed. Under the
agreements, the researchers will provide support for Bristol-Myers'
clinical studies with regards to its full development pipeline for
the next three years. The drug maker said it is preparting for a
"large volume" of clinical-development work that "will require
expanding upon its existing partnering approach for clinical
development."
"Working with Icon and Parexel, two leaders in clinical
research, Bristol-Myers Squibb will enhance support for our robust
pipeline and improve our ability to deliver innovative medicines to
patients with serious disease," said Brian Daniels, Bristol's
senior vice president of global development.
In April, Bristol-Myers said its first-quarter profit jumped 16%
on higher sales, though it trimmed its full-year adjusted earnings
forecast because of the impact of the government's health-care
overhaul.
Shares of Bristol-Myers rose 0.5% to $25.20 premarket and, as of
Friday's close, have risen 27% in the past year. Parexel and Icon
finished at $21.43 and $27.15, respectively, on Friday and were
inactive premarket.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855;
nathan.becker@dowjones.com;