5. Eli Lilly and Parexel
5. Eli Lilly and Parexel:
It isn't a secret to anyone that the Asia-Pacific region is a hotbed for drug development and clinical work. Realizing that it wanted to expand in that part of the world, Eli Lilly ($LLY) turned to Parexel International ($PRXL) to help implement a plan.
Parexel was already well established in the region, with offices in India, Australia, Taiwan and South Korea, among other countries, and Lilly wanted to take advantage of that reach. Taking the partnership one step further is that it is a functional service provider (FSP) relationship, which helps Eli Lilly get drugs out to patients quicker in an already competitive, fast-paced regional market.