US pharmaceutical services organisation inVentiv Health has been named by Pfizer as its preferred provider for global clinical services.
The company will oversee Pfizer's sourcing strategy for the clinical operations of all its worldwide business until June 2019, at which point Pfizer may extend the deal for a further two years.
President of the clinical division at inVentiv Health Dr Michael McKelvy, said: "Complex science and challenging marketplace dynamics are driving the need for new, accelerated approaches to clinical development."
He added: "This agreement is an indication that our leading full-service clinical offerings are value-enhancing and scalable. We designed this approach to deliver patient-centric outcomes in an increasingly competitive environment."
As a result of winning Pfizer's clinical operations account, inVentiv Health expanded its clinical operations, with a focus on oncology, pain, neuroscience and respiratory therapeutic areas as well as data and technology-driven efficiency measures.
Gregory Skalicky, chief commercial officer of inVentiv Health's clinical division, said: "The expansion of our relationship under this new preferred provider status will allow us to continue to seamlessly orchestrate our full suite of clinical solutions.
"We're committed to realising improved efficiencies in support of Pfizer's clinical development activities."