LEO Pharma, a market leader in medical dermatology, announced a strategic partnership with ICON plc. Through this alliance, LEO Pharma will be able to scale patient-centered and cost-effective clinical trial execution, furthering the company’s goal of creating one of the most effective and efficient clinical portfolio execution organizations in the sector.
The Mission of the Strategic Partnership
The partnership’s goal is to enhance the quality of life for dermatology patients by providing them with access to cutting-edge clinical trials and the introduction of new medications. The abbreviation PACE will help to represent the partnership and the urgency with which the issues of clinical development of today require attention. Also, it symbolizes the characteristics of passion, agility, communication, and excellence in delivery that LEO Pharma and ICON share.
The Need for the Strategic Partnership
By forming a strategic alliance with ICON, LEO Pharma hopes to further improve its transformation path by building on previous collaboration accomplishments within psoriasis trials. With a customized and adaptable hybrid strategy, the alliance will use both completely outsourced and functional outsourcing methods. LEO Pharma intends to accomplish the following while still being a patient-centric organization: drive clinical trial efficiencies, significant and lean scalability in all areas of expertise within clinical development, co-investment in the area of decentralized clinical trials, access to a sizable number of ICON in-house ancillary services, economies of scope and scale, access to external data, knowledge & expertise as well as technologies, and a partnership with a competing pharmaceutical company.
“We looked into a number of outsourcing methods and discovered that a hybrid sourcing model was the most effective. According to Jörg Möller, Executive Vice President and head of Global R&D at LEO Pharma, “partnering with ICON supports our 2030 vision as it will assist us to get breakthrough treatments to patients faster while also enabling a more sustainable business through scalability and flexibility. The breadth of services offered by ICON and its position as a market leader in clinical development will assist LEO Pharma’s R&D strategy on the basis of fostering innovation through collaboration and sustaining competitiveness.
How will this strategic partnership drive clinical trial execution?
ICON will work with a team of over 500 experts from across its business to support LEO Pharma through this partnership. ICON will bring differentiating and enabling capabilities, such as its laboratories, Accellacare site network, FIRECREST site management, and decentralized clinical trial capabilities. In addition, to create a competitive advantage in the way the trials are conducted.
“ICON is excited to partner with LEO Pharma in a way that fully demonstrates the depth and breadth of our skills and knowledge. When working with our partners, we adopt a flexible and integrated strategy, relying on fully outsourced, hybrid, and FSP models that enhance their internal capabilities and help them realize their strategic objectives. As per Steve Cutler, CEO of ICON, working with a partner who upholds our principles and is dedicated to enhancing patient care inspires our staff.
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