Essential Building Blocks For Successful Strategic Partnerships
Based on working with hundreds of biopharmaceutical companies large and small and throughout all phases of development, PAREXEL® has the expertise to understand what must be optimized to deliver results and efficiencies in Strategic Partnerships. The essential building blocks of successful partnering relationships are based on:
By engaging sponsors early in the clinical trials process, PAREXEL helps establish better protocols and operational plans, optimize performance, improve efficiencies, and create the best course of action to achieve results.
Well-Defined financial Structures.
With PAREXEL, being able to put the correct financial structure into place starts at the beginning of each partnership. This includes the creation and tracking of financial and operational metrics that will serve as indicators of the relationship’s performance.
A Strong Governance framework.
To help sponsors retain quality trial performance while dedicating substantially less time to CRO oversight, PAREXEL creates detailed charters with regular review. This helps to ensure that teams stay on track throughout every partnership and each project.
PAREXEL’s systematic methodology and approach to innovation focuses on cost, speed, and quality. Defining innovation targets upfront and measuring them regularly improves efficiencies, accelerates cycle times, and reduces costs.
In the most successful Strategic Partnerships, both the CRO and sponsor collaborate fully and communicate openly. for PAREXEL, effective communications are managed and measured proactively throughout the course of each project.
PAREXEL collaborates with sponsors to define the metrics to measure the value delivered around process improvement, cycle time acceleration, quality increases, and solutions that lower costs.
Based on years of working closely with biopharmaceutical leaders, PAREXEL recommends and implements best practices around study startup, technology use, trial site and patient recruitment, and metrics to deliver greater value and more operational efficiencies.
PAREXEL has developed its Strategic Partnerships program to provide sponsors value by:
• Accelerating cycle times
• Improving quality
• Accessing innovation
• Providing unique solutions to optimize research costs
As the leading global CRO, PAREXEL has the experience and the infrastructure to deliver on all aspects of Strategic Partnerships. PAREXEL is committed to creating partnerships that deliver value, drive performance, and bring new drugs to market faster.