It’s no surprise to industry insiders that the largest pharmaceutical companies rely on the largest contract research organizations (CROs) for the lion’s share of their outsourced R&D. For example, in the first quarter of this year, 34% of ICON’s total revenue (approximately $134 million of its estimated more than $500 million in annual sales) was with one client, presumably Pfizer;1 industry-leading Quintiles has 14 clients that each generate more than $100 million in revenue annually;2 and, in the first half of 2014, PRA derived 66 percent of its revenue from large pharma/biotech companies.3 ICON, Parexel and PPD all have partnerships with Pfizer; Covance (LabCorp) has partnered with Eli Lilly, Bayer and Sanofi; and Quintiles has partnered with Takeda and Roche, to name a few.
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