Russia and Eastern Europe have proven to be very important to the biopharmaceutical industry. The acquisition will help PRA establish a stronger presence there with one of the region’s well established CROs.
"With ClinStar's high-caliber staff, culture and passion for customer service, it is a logical fit for PRA," said Colin Shannon, president and CEO of PRA. "ClinStar will augment PRA's operations and expertise in Russia and Eastern Europe. Their knowledge and experience in this region complements PRA's overall global reach and infrastructure."
The acquisition also includes ClinStar's standalone clinical trial warehousing and logistics division, IMP Logistics, operating in Russia, Ukraine and Belarus. PRA now can offer cold chain logistics services including importation of investigational products, clinical supplies, laboratory kits and printed materials, storage in multiple temperature zones, distribution to sites, collection of returned medication and coordination of product destruction.
Over the coming months, PRA plans to integrate the 300 ClinStar and IMP Logistics employees. Financial terms of the agreement were not disclosed.