BOSTON--(BUSINESS WIRE)--PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services organization, today announced expanded services and capabilities in genomic-based drug development. The PAREXEL® Genomic Medicine team offers clients a variety of strategic and operational genomic research services to accelerate drug development and to support regulatory and payer approval processes.
Biopharmaceutical companies are increasingly applying genomics to drug discovery and development to better understand the genetic basis of disease, drug targets, and drug response. Over the next five years, the number of personalized medicines in development is expected to increase 69 percent.1 Additionally, regulators and payers are increasingly seeking genomic information to inform decision-making and assure a product delivers clinical utility and value for the intended patient population. In 2015, 20 percent of FDA approvals were for targeted therapies. 2 Researchers have also shown that drug mechanisms with genetic evidence may be twice as likely to receive regulatory approval.3
"Recently, the terms 'precision medicine' and 'personalized medicine' have become household terms, and genomic research is the key to developing targeted therapies. By applying innovative and state-of-the-art methodologies, we work with our clients to understand how genes impact an individual's response to treatment – and why people who receive the same treatment may respond differently," said Sy Pretorius, M.D., Chief Scientific Officer, PAREXEL. "PAREXEL's Genomic Medicine team leverages genomic information across more than 10 therapeutic areas to help biopharmaceutical companies discover, develop, and secure regulatory and payer approval for their new medicines."
PAREXEL's Genomic Medicine team is comprised of more than 15 scientists with an aggregate of nearly 300 years of combined experience in genomics, drug discovery, and drug development. The team joined PAREXEL from GlaxoSmithKline's Genetics and Computational Biology departments.
For more information about PAREXEL's Genomic Medicine services, visit: www.parexel.com/genomics.
About PAREXEL International
PAREXEL International Corporation is a leading global biopharmaceutical services organization, providing a broad range of expertise-based contract research, consulting, medical communications, and technology solutions and services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. PAREXEL Informatics provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL has offices in 77 locations in 51 countries around the world, and had approximately 18,200 employees in the second quarter. For more information about PAREXEL International visit www.PAREXEL.com.
PAREXEL is a registered trademark of PAREXEL International Corporation. All other trademarks are the property of their respective owners.
This release contains "forward-looking" statements regarding future results and events. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "intends," "appears," "estimates," "projects," "will," "would," "could," "should," "targets," and similar expressions are also intended to identify forward-looking statements. The forward-looking statements in this release involve a number of risks and uncertainties. Such factors and others are discussed in the section entitled "Risk Factors" of the Company's most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission, which "Risk Factors" discussion is incorporated by reference in this press release. The Company specifically disclaims any obligation to update these forward-looking statements in the future. These forward-looking statements should not be relied upon as representing the Company's estimates or views as of any date subsequent to the date of this press release.
1 Tufts Center for the Study of Drug Development Impact Report, Volume 17, No 3, May/June 2015.
2 Tufts Center for the Study of Drug Development Impact Report, Volume 17, No 3, May/June 2015.
3 Nelson MR, et al. (2015) The support of human genetic evidence for approved drug indications. Nature Genetics, 47, 856-860. Accessed at http://tiny.cc/d2n67x January 14, 2016.