Pharmaron, a research and development service provider for the pharmaceutical and biotech industries, announced a drug discovery partnership with AstraZeneca.
Under the multi-year agreement, Pharmaron will provide AstraZeneca with discovery services. Pharmaron will conduct these services with a team consisting of several hundred scientists in laboratories at its newly opened drug discovery service center in Beijing.
The co-location of screening and chemistry services at a single partnership expected to help AstraZeneca scientists drive their drug discovery programs with greater efficacy, according to a release. Financial details of the deal were not disclosed.
AstraZeneca and other pharma companies have been outsourcing research, due to the costs of research and disappointing results in in-house labs. The focus is shifting to China, due to its economic growth and other advantages that come in serving the world’s largest market in terms of population.
Manos Perros, of AstraZeneca said, “We are pleased to enter this strategic partnership with Pharmaron which we believe will help us progress projects through our R&D pipeline more efficiently. Pharmaron scientists will be integrated into our project teams and play an important role in helping us fulfill our commitment to delivering meaningful medicines to patients worldwide.”
Pharmaron has research labs in Kentucky, California and China.
