PRA Health Sciences, Inc. (PRAH - Free Report) and The Leukemia & Lymphoma Society (LLS) recently collaborated to introduce a first-of-its-kind global clinical master trial in order to develop new treatments for children with relapsed acute leukemia. Notably, the new LLS PedAL (Pediatric Acute Leukemia) master clinical trial will test, concurrently, multiple targeted therapies for children who experience a relapse of their acute leukemia.
In fact, the study will be held at over 200 sites (part of the National Cancer Institute-supported Children’s Oncology Group network of children’s hospitals) across the world that include those in the United States, Australia, New Zealand and Canada.
With this partnership, PRA Health is likely to boost its Clinical Research segment.
Role of PRA Health
The LLS PedAL trial will introduce several novel therapies to treat children with relapsed acute leukemia and also intends to add additional treatments when they become available.
PRA Health will act as the contact research organization (CRO) for this trial and will manage a lot of aspects of the same, including coordinating with all of the study sites, ensuring proper execution of the study protocols and monitoring the data quality and safety reporting. Apart from this, PRA Health will also offer guidance for submissions to the FDA and international regulatory agencies.
PRA Health ensure implementation of advanced technology solutions that will help the trial to be digitally-enabled to best fit the patients’ lifestyles, thereby minimizing the burden of participation and keep the trial current throughout the lifecycle.
On the back of strong global pediatric and hematology/oncology experience, PRA Health can help expedite treatments to these children and assist their families during this crisis.
In June 2020, PRA Health became ready to navigate RACE Act (The Research to Accelerate Cures and Equity for Children Act) requirement for pediatric oncology. Clinical research companies along with their pediatric research specialists, which include PRA Health Sciences will be called on to lend support to pharmaceutical and biotech companies as they sponsor the required research for pediatric oncology indications.
According to a report by Global Market Insights, the CRO market size grew more than $36.5 billion in 2018 and is expected to see a CAGR of more than 7.6% up to 2025. Hence, this partnership is a well-timed one.
Shares of the Zacks Rank #3 (Hold) company have lost 2.5%, against the industry’s growth of 19.6% in a year’s time.
Stocks to Consider
Some better-ranked stocks from the broader medical space include West Pharmaceutical Services, Inc. (WST - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and PerkinElmer, Inc. (PKI - Free Report) . While PerkinElmer sports a Zacks Rank of 1 (Strong Buy), both Thermo Fisher and West Pharmaceuticals carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PerkinElmer has a projected long-term earnings growth rate of 17.4%.
West Pharmaceutical has a projected long-term earnings growth rate of 17.4%.
Thermo Fisher has an estimated long-term earnings growth rate of 15%.
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