While there was a time when most biopharma companies handled all aspects of their drug development activities “in house”, that approach is becoming the exception to the norm. Now, many drugmakers — large and small — outsource their R&D work to labs that not only specialize in drug discovery and development, but to labs that have their finger on the pulse of what works and what doesn’t work with the FDA. Enter Parexel International Corporation (PRXL). Its stock is up 85% so far this year, as the value of offering third-party drug development became en vogue.
PRXL has been of particular interest of late, as it has designed and begun to offer a proprietary trial-management technology. That, coupled with a large double-digit increase in biotech funding for the year so far, point to more than a fair share of the clinical research industry’s business coming Parexel International’s direction.