PRA Health Sciences, Inc. Expands Service Provisions to Pharmaceutical and Biotech Companies Through Buyout of Takeda Joint Venture in Japan
Osaka, Japan, July 24, 2019 – PRA Health Sciences Inc. (NASDAQ: PRAH, “PRA”) announced the buyout of its joint venture with Takeda Pharmaceutical Company Limited (TSE: 4502, “Takeda”) in Japan, which was completed on June 1. PRA Health Sciences K.K. has started its operation in Japan independently as a subsidiary of PRA.
Since 2016, PRA has developed strategic partnerships with Takeda in Japan, the United States, and Europe. In Japan, the “Takeda PRA Development Center” was established through a joint venture in June 2017, which resulted in the transfer of Takeda employees who have extensive pharmaceutical development experience, as well as a clinical development system that is efficient and flexible. In June 2019, it was announced that the joint venture became PRA’s wholly-owned subsidiary and was consolidated under the umbrella of PRA Health Sciences K.K. by acquiring all shares of stock. Through this integration, the company will offer a range of services to pharmaceutical companies, biotech companies, and academia. In addition, the service provision developed based on the partnership with Takeda will continue to be in effect after the dissolution of the joint venture.
With the expansion into Japan, PRA becomes a true pharma partner in the market, providing innovative solutions, expertise and significant experience as a leading global CRO. Since 2000, PRA has received approval for more than 85 medicines, and currently PRA conducts more than 3,800 clinical tests throughout the world. Global services include robust and flexible infrastructure, end-to-end clinical development across all phases, and technology and data science solutions. In addition to monitoring operations, PRA provides resources that are essential for conducting clinical trials in Japan, including pharmaceutical affairs, medical writing, medical monitoring, clinical pharmacology, data management, and pharmacovigilance.
The business expansion efforts in Japan are reflected in the office relocation in Tokyo and Osaka. With the acquisition of expert staff members from Takeda and the overall organic growth of the business, current staff totals reach 450 with opportunity for additional growth in the near term.
“In recent years, clinical development that bridges simultaneous global development has become a common practice. Through the wealth of experience and expertise in advanced clinical trials in Japan acquired through the joint venture, and our strengths in clinical development across 90 countries, we strive to become an ideal drug development partner for our clients on a global scale,” said Colin Shannon, PRA President and Chief Executive Officer.
“The wave of new technology is present in how we conduct clinical trials. PRA is actively investing in technology, such as apps that reduce the burden on patients taking part in clinical trials, to discover new forms of clinical trials. We aim to support the clinical development work of clients to improve the lives of patients we serve,” said Atsushi Ogawa, President and Representative Director of PRA Health Sciences K.K.
ABOUT PRA HEALTH SCIENCES, INC.
PRA Health Sciences (NASDAQ: PRAH) is a full-service global contract research organization, providing a broad range of product development and data solution services to pharmaceutical and biotechnology companies around the world. PRA’s integrated services include data management, statistical analysis, clinical trial management, and regulatory and drug development consulting. PRA’s global operations span more than 90 countries across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East, and more than 16,000 employees. Since 2000, PRA has participated in more than 3,800 clinical trials. In addition, PRA has participated in the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 85 products. To learn more about PRA, please visit www.prahs.com.
ABOUT PRA HEALTH SCIENCES K.K.
PRA Health Sciences K.K., is the Japanese operation of PRA, providing clinical development support services to clients including pharmaceutical companies and biotech companies. The company integrates consulting, data solution services, information technology and drug development, as well as contracting and agency services for conventional clinical development. In the future, the company strives to provide services that are distinct from traditional CRO services, such as providing technology and operation support related to virtual clinical trials (i.e. Virtual trial platform “Clinical 6”), a trend that is expected to accelerate in the industry.
PRA Health Sciences
Laurie Hurst, Director of Communications and Public Relations
TEL: +1 919-786-8435