PAREXEL International Corporation, one of the leading companies that offer biopharmaceutical services, has introduced a novel, dedicated division that would support developing biotech companies to help them develop drugs and commercialize them more swiftly and cost-effectively.

PAREXEL Biotech is based on the company’s heritage of clinical, commercial, regulatory, and technology knowledge regarding strategic consulting and asset development. This new division is led by Graciela Racaro, Global Head of Biotech Operations and James Anthony, Global Head of Biotech. They aim to help emerging biotech companies to minimize complexity and complete deadlines while reducing costs.

James Anthony stated, “Current emerging biotech companies have an extremely vital and challenging role to play in identifying and developing new drugs that effectively serve as the innovative arm of the industry. However, the companies go through enormous pressure in terms of timelines, funding, and resources to succeed in the industry.”

The other leader, Graciela Racaro, added that they look forward to combining the expertise of PAREXEL’s and its global infrastructure with an effective and swift delivery model that is aligned to a specific segment and enables entry-level biotech companies to focus on their prime capabilities to reach their strategic goals.

The company has taken a consultative approach to develop tailored consulting strategies that help companies obtain their goals including proof of concept, development of product, registration, and finally commercialization.

PAREXEL has been working in the market to support new biotech companies across the world with its clinical research services and has accomplished more than 650 projects. It has developed a deep understanding of the needs of emerging companies and has developed capabilities to include management and strategy consulting, evidence vetting, and pipeline development.

Recently Big Market Research published a report on the strategic consulting market. The rapid growth of the market has boomed in recent years, owing to the worldwide economic growth and rise in number of startups. Moreover, the digitization in all the industrial and financial sectors and increase in disposable income have supplemented the market growth. In fact, in North America, the strategy consulting market is flourished with a significant rate, owing to the developed economy with a circulation of money which has encouraged new startups and business firms. Apart from North America, several Asian companies have grown at a rapid speed due to digitization and industrialization.