NEW YORK--(BUSINESS WIRE)--Medidata Solutions (NASDAQ: MDSO), a global provider of hosted clinical development solutions, today announced a multi-year contract extension with Bristol-Myers Squibb Company (NYSE: BMY) for use of Medidata Grants Manager™, an investigator site benchmarking tool that helps sponsors ensure fair and consistent investigator payments, mitigate compliance risks and reduce trial start-up time. Under this new contract, Bristol-Myers Squibb will also be expanding its use of Grants Manager to include analysis and contracting modules.

Bristol-Myers Squibb has used Grants Manager for 15 years. Powered by the PICAS^® clinical cost database of negotiated agreements between sponsors and investigators, Grants Manager provides access to key fair market value data of investigator costs and payments. The Grants Manager solution enables clinical teams to facilitate clinical cost planning and budgeting processes and create consensus in the budget review and approval process. The analysis tool offers access to reporting on trial financial data, while the contracting module enables collaborative review of budgets via the Internet to further streamline the company’s processes.

“Our lasting relationship with Bristol-Myers Squibb is representative of the reliability of our solutions, services and support teams, which we will continue to make every effort to deliver throughout our collaboration with the Bristol-Myers Squibb clinical team,” said Tarek Sherif, Chairman and CEO, Medidata Solutions.

About Medidata Solutions Worldwide

Medidata Solutions (www.mdsol.com) is a leading global provider of hosted clinical development solutions that enhance the efficiency of customers’ clinical development processes and optimize their research and development investments. Medidata products and services allow customers to achieve clinical results more efficiently and effectively by streamlining the design, planning and management of key aspects of the clinical development process, including protocol development (Medidata Designer^®), investigator benchmarking and budgeting (Medidata Grants Manager™), contract research organization (CRO) benchmarking and budgeting (Medidata CRO Contractor™), and the capture, management, analysis and reporting of clinical trial data (Medidata Rave^®). Medidata’s diverse customer base spans pharmaceutical, biotechnology and medical device companies, academic institutions, CROs and other research organizations, and includes more than 20 of the top 25 global pharmaceutical companies.