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Bristol Signs Parexel, Icon

Two major contract research and testing companies with significant operations in North Carolina have signed three-year contracts with drug giant Bristol-Myers Squibb for clinical development of new drugs.

Parexel International and Icon PLC have agreed to help Bristol with what the global firm said was a large volume of clinical-development work.

In making the announcement, Bristol didn't disclose terms of the contracts. North Carolina representatives of the companies haven't said how they'll benefit, though increased activity is expected at both contract support operations.

Parexel, headquartered in Massachusetts, has a North Carolina operation based in Durham. Icon, headquartered in the Scottish capital of Edinburgh, also has a Durham base.

"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," said Brian Daniels, Bristol's senior vice president of global development.

North Carolina is home to what is believed the largest concentration of contract research organizations in the United States.

Read the full news release