Merck and PAREXEL International Corporation, a global biopharmaceutical
services provider, today announced that they have entered into an alliance by
which PAREXEL will provide strategic access to global clinical development
services for designated biosimilar candidates to Merck BioVentures. Merck
BioVentures, a division of Merck, is focused on the delivery of high quality biosimilars
to the patients that need them.

“PAREXEL has extensive, industry-leading experience
with biosimilar development, and we truly understand the scientific
complexities, and regulatory pathways involved,” said Josef von
Rickenbach, chairman and chief executive officer of PAREXEL.”We are
committed to working with Merck BioVentures to assist in advancing its
biosimilar portfolio in this rapidly developing market segment for the benefit of
patients worldwide.” Under the terms of the agreement, PAREXEL will
provide Merck BioVentures with strategic access to a broad range of regulatory strategy
and clinical development planning capabilities for the development of certain
broad classes of biosimilars across various therapeutic areas, including
exclusivity for certain candidates. The agreement also provides for the
establishment of a dedicated Merck BioVentures unit within the PAREXEL
organization. Further details of the agreement were not disclosed.

“Through this agreement, Merck BioVentures has secured
broad strategic access to PAREXEL’s proven biosimilar clinical development experience,”
said Michael Kamarck, president of Merck BioVentures.

“This
agreement positions Merck BioVentures for success with an industry leading
partner that has the expertise and resources to conduct clinical development of
our diverse portfolio of candidates to allow timely delivery of products to the
marketplace.”