BOSTON— PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced enhancements to its Randomization and Trial Supply Management (RTSM) service, ClinPhone® RTSM. PAREXEL designed the enhanced service to simplify patient randomization and clinical supply management and to offer greater speed and flexibility in tailoring the service to meet the needs of clinical trials while reducing delivery timelines. For the improvements, PAREXEL integrated the interactive response technology acquired from ClinIntel in October 2014 with PAREXEL's experience in delivering RTSM services to thousands of studies to create an enhanced fourth-generation technology platform.
"RTSM services are critical to clinical trials, helping sponsors achieve treatment group balance, eliminate selection bias, increase the predictability of treatment allocations, and manage trial supplies, including minimizing drug wastage by enabling automated site restocking." said Xavier Flinois, President, PAREXEL Informatics. "Biopharmaceutical companies are increasingly seeking to make drug development more efficient without compromising patient safety or data quality. With the fourth-generation ClinPhone RTSM service, our clients will benefit from a streamlined system delivery process, the flexibility to make rapid study design changes, and simpler patient and supply management."
Enhancements to the ClinPhone RTSM service that will benefit our customers include:
- Speed and efficiency: typically ready for use in four to eight weeks, cutting weeks off of the standard system delivery time
- Configuration and customization: quickly tailored to meet the demands of different phases of clinical development, local regulators, regional requirements, and client or protocol specific needs
- Adaptability: rapid turnaround and minimal timeline disruption for study changes before or during the trial
The ClinPhone RTSM service has been used in more than 3,300 studies involving more than 290,000 sites and 2.4 million patients. A recent global survey conducted by Industry Standard Research, 2014 IRT Market Dynamics and Service Provider Benchmarking Report, ranked ClinPhone RTSM as the leading interactive response technology, citing it as the most preferred and widely used solution.
ClinPhone RTSM is a key component of the Perceptive MyTrials® platform, an integrated suite of applications for managing clinical trials. ClinPhone RTSM is also available through the Perceptive® Partner Program, as a standalone RTSM solution, and as part of end-to-end PAREXEL® Clinical Trial Supplies and Logistics solutions to help ensure the right medication kits are received by the right patients at the right time.
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, Inc. provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 80 locations in 51 countries around the world, and had approximately 17,440 employees in the third quarter. For more information about PAREXEL International visit www.PAREXEL.com.
PAREXEL, PAREXEL Informatics, Perceptive, Perceptive MyTrials, and ClinPhone are trademarks or registered trademarks of PAREXEL International Corporation or its affiliates. All other trademarks are the property of their respective owners.
This release contains "forward-looking" statements regarding future results and events, including, without limitation, statements regarding expected financial results, future growth and customer demand. 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 materially 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 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 including the acquisitions of ClinIntel Limited and Quantum Solutions India, 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 foreign currency 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 March 31, 2015 as filed with the Securities and Exchange Commission on May 1, 2015, 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