PAREXEL International, a global biopharmaceutical services provider, has been named a recipient of the 2013 "Partnership Pioneers of the Year" award in recognition of its innovative strategic partnership with Pfizer and ICON.

Given by the advisory board of the Institute for International Research and Partnerships in Clinical Trials, the award recognizes two or more companies engaged in a partnership that moves beyond the traditional transactional model to further drug development.

"PAREXEL is honored to receive the 'Partnership Pioneers of the Year' award in recognition of our successful collaboration with Pfizer, which has ushered in an innovative approach to clinical trial execution," said Josef von Rickenbach, chairman and CEO of PAREXEL. "We are proud of our ability to utilize PAREXEL's global resources and worldwide technology infrastructure to implement high-quality clinical trials with greater efficiency. We will continue to apply lessons learned from this relationship model to drive value creation and improve outcomes-focused partnerships across our entire portfolio."

PAREXEL announced a five-year strategic partnership model with Pfizer in May 2011. The goal of the strategic partnership model is to increase the speed and efficiency of clinical development programs, while ensuring that quality, innovation and global reach are central to improving predictability of clinical trials.

"Our new alliance partner model is providing a solid foundation for integrated quality clinical services," said Dr. John Hubbard, senior vice president of development operations for Pfizer. "ICON and PAREXEL's clinical expertise and innovative technology continue to set the standard for best practices in their field. This award recognizes progress toward our goal of creating a common culture dedicated to improving clinical trial implementation. We look forward to deepening our relationship with ICON and PAREXEL, to achieve our partnership's full potential, and ultimately deliver medicines to patients in need more quickly and efficiently."

The Partnership Pioneers of the Year award comes on the heels of a new PAREXEL research report titled, Strategic Partnerships 2013. The report explores the current outsourcing landscape and examines the value that strategic partnerships provide to biopharmaceutical companies of all sizes.