Bristol-Myers Signs Clinical Development Deal
Pharmaceuticals giant Bristol-Myers Squibb Co., which has significant operations in Devens, said it has signed an agreement with clinical development services providers Parexel and Icon.
Under the agreement, Icon of Dublin, Ireland and Waltham-based Parexel will provide support for BMS's clinical studies. BMS said the agreement is necessary because of the large amount of clinical development work it has planned.
New Jersey-based BMS said the partnerships with Icon and Parexel represent an expansion of an existing "partnership approach" to clinical development.
The company said the arrangement allows BMS to be more productive.
BMS completed construction of a $750 million biologics manufacturing facility in Devens last year and is awaiting U.S. Food and Drug Administration approval of the facility. As many as 550 employees are expected to work there.
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