ICON, PAREXEL to provide global support for execution of Bristol-Myers Squibb's clinical studies

Bristol-Myers Squibb Company (NYSE: BMY) today announced that it has signed agreements with ICON and PAREXEL, two leading providers of clinical development services to the biopharmaceutical industry, for joint strategic, operational and capability support of the company's clinical development program.

“PAREXEL is proud to join this partnership, which is representative of leading models for outsourcing that have the potential to increase efficiency and create significant value.”

Under the agreements, ICON and PAREXEL will provide global support for the execution of Bristol-Myers Squibb's clinical studies to support its full development pipeline over the next three years. Because of a robust pipeline and significant inlicensing activity, Bristol-Myers Squibb is preparing for a large volume of clinical development work that will require expanding upon its existing partnering approach for clinical development. Consistent with the company's BioPharma strategy, the agreements with ICON and PAREXEL will complement the company's internal high-performing capabilities and capacity with high-quality clinical development services from partners who can drive efficiency and cost savings.

"These partnerships will increase the operational capability of our clinical development organization, and support our industry-leading position in productivity and innovation," said Brian Daniels, senior vice president, Global Development, Bristol-Myers Squibb. "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."

''We are delighted that Bristol-Myers Squibb has selected us to support its global clinical development programs," commented Dr. John Hubbard, ICON Group President Clinical Research Services. "Over the last ten years, we have forged a strong partnership by working hard to fully understand Bristol-Myers Squibb's unique requirements. We look forward to moving this partnership to another level and continuing to support Bristol-Myers Squibb's goal of bringing innovative treatments to patients."

"We look forward to a deeply collaborative relationship with Bristol-Myers Squibb to help provide innovative solutions for its growing pipeline, as well as leverage our global capabilities and worldwide technology infrastructure to support the effectiveness of its clinical development programs," said Josef von Rickenbach, Chairman and Chief Executive Officer, PAREXEL International. "PAREXEL is proud to join this partnership, which is representative of leading models for outsourcing that have the potential to increase efficiency and create significant value."