Beijing, September 24, 2013 —PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced the launch of PAREXEL Dĭng Huī , China Trials Solution. Designed to support clients' drug development objectives in China, the offering combines advanced technology and international SOPs (Standard Operating Procedures) with local expertise and resources to deliver cost-effective services that meet global quality standards. PAREXEL Dĭng Huī will support clients through locally delivered, streamlined services that support single-country registration trials and are tailored to meet Chinese NDA submission requirements.
"Drug manufacturers must follow a mandatory clinical trial process before launching pharmaceutical products in China," said Albert Liou, Vice Chairman of PAREXEL International Co. Limited, a subsidiary of PAREXEL International Corporation. "Because of the unique, complex and often-lengthy nature of this process, clients are seeking to partner with CROs that truly understand local clinical trial and regulatory requirements and have global expertise. PAREXEL Dĭng Huī brings world-class, quality service to Chinese clinical registration trials by combining on-the-ground expertise, innovation and technology. This can help enable clients to bring new drugs to patients in this important market."
PAREXEL has a long history of serving biopharmaceutical companies in China. In 2007, the Company acquired APEX International Clinical Research Co. to strengthen its global capabilities and provide clinical research service offerings in China. In May 2013, the Company opened a new office in Shenyang to support growing client demand for clinical development capabilities in China. The Company also serves clients from five other locations in China: Beijing, Chengdu, Guangzhou, Shanghai and Hong Kong.
"PAREXEL Dĭng Huī reflects an evolution of our overall business model to address country-specific clinical development needs for clients who are seeking to launch products in China," said Mark A. Goldberg, M.D., President and Chief Operating Officer, PAREXEL. "We believe this focused offering will deliver important benefits in terms of cost effectiveness and efficiency in a complex, rapidly growing market."
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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, consulting, and medical communications 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 77 locations in 51 countries around the world, and ended the June quarter with approximately 14,700 employees. For more information about PAREXEL International visitwww.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," "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. 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 and anticipated restructurings; 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; 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 Annual Report on Form 10-K for the fiscal year ended June 30, 2013 as filed with the SEC on August 22, 2013, 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.
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.