Boston CRO giant Parexel ($PRXL) and the EMC Corporation have penned a new deal that will see the two companies offer a new “end-to-end regulatory solution” for clients.
Parexel and the Hopkinton , MA-based IT firm EMC will put together the CRO’s Liquent InSight Regulatory Information Management platform with EMC’s Documentum for Life Sciences software suite, that will essentially see them create a service for a product’s entire regulatory lifespan.
“A life sciences company must navigate the complex, global and region-specific regulatory landscape to maintain registration and compliance for a product,” said Paul Bidez, VP and global head of regulatory solutions at Parexel.
“To help solve this challenge for our clients, Parexel and EMC brought together our respective industry-leading regulatory information management platform and industry-leading life sciences content management solution suite within Parexel’s regulatory cloud.”
Rohit Ghai, president of the enterprise content division at EMC, added: “Industry pressures are prompting biopharmaceutical organizations to adopt new business models, enter new global markets, and expand alliances and partnerships. To achieve these goals, Life sciences organizations are becoming more strategic in how they manage information.”
“By partnering with Parexel, we’re enabling these organizations to digitally transform and deliver high-quality, safer drugs to market faster and at a lower cost, while meeting regulatory requirements.”
Parexel is currently in the middle of its plan to cut 850 jobs across its global businesses, which aims to save the company about $30 million to $40 million by June.
But in the last quarter the CRO has made a number of deals, including a pact with the Optum Life Sciences unit of the nation's largest insurer, UnitedHealth Group ($UNH), to help lower costs in postapproval studies.
It also acquired consulting firm Health Advances in Jan. as it looks to expand its consulting side of the business.
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