PAREXEL OPENS NEW EARLY PHASE UNIT IN SOUTH AFRICA, EXPANDING CAPABILITIES TO SUPPORT CLIENTS IN ACCELERATING DEVELOPMENT
Boston, MA, February 23, 2010- PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced that it has expanded its capabilities through the opening of a new early phase unit in Port Elizabeth, South Africa. The Port Elizabeth unit has added more than 40 beds to PAREXEL's global early phase capacity of over 580 beds, which is among the largest capacities worldwide. In addition to providing the capability to conduct a variety of studies in healthy volunteers, the core focus of the Port Elizabeth unit is on early phase studies in patients, from First in Man to Proof of Concept studies.
PAREXEL's other early phase units in South Africa, based in Bloemfontein and George, have a proven track record of conducting challenging early phase patient studies by combining Phase I expertise with successful patient recruitment capabilities. PAREXEL's early phase units are located across three continents, including in Baltimore and Los Angeles in the United States; London, United Kingdom; and Berlin, Germany. PAREXEL's early phase units provide rapid study-start up and direct access to diverse patient populations as well as healthy volunteers. The early phase unit in Port Elizabeth serves as one of the units in the PAREXEL SuperSitesSM network. The PAREXEL SuperSites network provides high enrollment potential for clinical studies, drawing on dedicated patient recruitment specialists and relationships with local health care professionals. PAREXEL's call center and database capabilities allow for a high number of patients to be recruited in a rapid timeframe.
"Increasing the number of patients per site and reducing the overall number of sites in a study serves to decrease variability-improving study quality and reproducibility," said Michelle Middle, MB ChB, Corporate Vice President and Worldwide Head of Early Phase, PAREXEL International. "The opening of our early phase unit in Port Elizabeth represents PAREXEL's further commitment to offering rapid recruitment solutions to our clients. Port Elizabeth joins our other early phase units, which are integrated and harmonized to handle complex global studies involving healthy volunteers and patient populations."
As part of the official inauguration of its early phase unit in Port Elizabeth, PAREXEL will bring together leading experts from around the world for an invitation-only symposium on February 24, 2010 entitled "Early Drug Development: The Challenge to Get Better Data Sooner." The symposium will address the latest trends and best practices to assist biopharmaceutical companies in overcoming key early phase development challenges. Members of PAREXEL's dedicated team of early phase experts will be in attendance to discuss the design and implementation of First in Man through Proof of Concept studies. These experts will address how biopharmaceutical companies can avoid costly late stage clinical development failures by making better and earlier go/no-go decisions.
PAREXEL's early phase services provide fully integrated solutions from First in Man through Proof of Concept and help biopharmaceutical companies generate better and faster go/no-go decisions about their compounds, and strive to return solid, reproducible outcomes to succeed in later-phase trials. PAREXEL's early phase capabilities include a full scope of early phase studies, specialized trial design, state-of-the-art technologies, hospital-based resources, and scientific expertise as well as vast experience in the oncology, neurology, cardiology, respiratory, and metabolism/endocrine therapeutic areas. For more information about PAREXEL's early phase capabilities visit: http://www.PAREXEL.com/Early_Phase.html.
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About PAREXEL International
PAREXEL International Corporation is a leading global biopharmaceutical services organization, providing a broad range of knowledge-based contract research, medical communications and consulting 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. Perceptive Informatics, Inc., a subsidiary of PAREXEL, provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 71 locations throughout 50 countries around the world, and has approximately 9,200 employees. For more information about PAREXEL International visit www.PAREXEL.com.
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," "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. The Company's actual future results may differ significantly from the results discussed in the forward-looking statements contained in this release. Important factors that might cause such a difference include, but are not limited to, risks associated with: actual operating performance; actual expense savings and other operating improvements resulting from recent restructurings, including the anticipated restructuring charge of approximately $30 million over the second and third quarters of Fiscal Year 2010; the loss, modification, or delay of contracts which would, among other things, adversely impact the Company's recognition of revenue included in backlog; the Company's dependence on certain industries and clients; the Company's ability to win new business, manage growth and costs, and attract and retain employees; the Company's ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business, including, but not limited to, the successful business integration and anticipated synergy achievements in connection with the ClinPhone acquisition; the impact on the Company's business of government regulation of the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry and competition within the biopharmaceutical services industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of exchange rate fluctuations and other international economic, political, and other risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2009 as filed with the SEC on February 5, 2010, which "Risk Factors" discussion is incorporated by reference in this press release. The forward-looking statements included in this press release represent the Company's estimates as of the date of this 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.
PAREXEL is a registered trademark of PAREXEL International Corporation, and Perceptive Informatics is a trademark of Perceptive Informatics, Inc. All other names or marks may be registered trademarks or trademarks of PAREXEL International Corporation, Perceptive Informatics, Inc. or their respective owners and are hereby acknowledged.