CRO Parimed has entered into a joint venture agreement with H&J CRO International in China, to offer research sponsors a full range of data management services at significantly reduced costs. Both companies will contribute experience in the design of data management solutions and statistical analysis plans, whereas H&J will host a large team dedicated to EDC development, data validation, SAS programming and statistical analyses.
Parimed is expected to reduce the cost of outsourced data management services by one-third or more.
"With clinical trial costs rising, pharmaceutical R&D budgets compressing and access to capital more challenging, it is an imperative for biotech and pharmaceutical companies to find new ways to reduce the time and cost associated with clinical development," said Larry Risen, Parimed's president and CEO. "Our newest venture with H&J CRO fits this paradigm and is consistent with Parimed's mission to provide cost-efficient solutions and time-sparing solutions for clinical research."