Merck & Co enlists Parexel help for biosimilar drugs development; stresses emerging markets ambitions

US drug giant Merck & Co (NYSE: MRK) has enlisted the help of Parexel International (Nasdaq: PRXL) to provide strategic access to global clinical development services for designated biosimilar candidates to Merck BioVentures, a division of Merck focused on the delivery of high quality biosimilars to the patients that need them.

"Parexel has extensive, industry-leading experience with biosimilar development, and we truly understand the scientific complexities, and regulatory pathways involved," said Josef von Rickenbach, chairman and chief executive of Parexel, adding: "We are committed to working with Merck BioVentures to assist in advancing its biosimilar portfolio in this rapidly developing market segment for the benefit of patients worldwide."

Under the terms of the deal, Parexel will provide Merck BioVentures with strategic access to a broad range of regulatory strategy and clinical development planning capabilities for the development of certain broad classes of biosimilars across various therapeutic areas, including exclusivity for certain candidates. The accord also provides for the establishment of a dedicated Merck BioVentures unit within the Parexel organization. Further details of the agreement were not disclosed.