ICON Reveals Service Deal with Pfizer

ICON plc,

, a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, revealed that it reached a three-year agreement with Pfizer Inc.

. However, the financial terms were not disclosed. According to ICON, the agreed terms enable Pfizer the right to extend the term for a maximum of an additional two years. The company added that the new agreement was built on the existing relationship, under which ICON offers global expertise in the planning, execution, management and conduct of clinical trials. The company's CEO, Ciaran Murray, stated: "The progression of our relationship with Pfizer is recognition of ICON's capabilities in supporting drug development efforts. We look forward to continuing our relationship with Pfizer to help advance its development pipeline and innovation in the drug development process." While ICLR closed with a loss of 1.63 percent, PFE ended Thursday with a gain of 0.20 percent.