BOSTON -- PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced the opening of its new European Coordination Hub and Distribution Center in Berlin-Schonefeld, Germany. The facility expands the Company's capacity to provide comprehensive clinical trial supply and logistics services to support clients' local, regional and global trial requirements. These capabilities include synchronized coordination of clinical trial supplies, ancillary supplies and central laboratory services.
"To safely and efficiently conduct clinical trials, our customers need highly specialized clinical supply and logistics services for studies that can span dozens of countries and hundreds of sites around the world," said Mark A. Goldberg, President and Chief Operating Officer, PAREXEL. "Our new European distribution center reflects a commitment to simplify the important end-to-end supply-management aspect of the drug-development journey."
The facility features more than 65,000 cubic meters of storage space. It offers lab-kit assembly and provides storage and distribution of ancillary materials.
"Through this center, we can customize sourcing and distribution strategies for customers in ways that are efficient, robust and compliant with local regulations," said Thomas Senderovitz, Senior Vice President, Clinical Research Services, PAREXEL. "In addition, from this central location, we can provide responsive, timely delivery services to all EU destinations."
The new European Coordination Hub and Distribution Center will be licensed to store Investigational Medicinal Products (IMPs) and Non-Investigational Medicinal Products (N-IMPs). It will also offer secondary packaging, re-labeling, and compliance with Good Distribution Practice (GDP) of medical devices and ambient, refrigerated and frozen medicinal products, including controlled substances. On-site Qualified Person (QP), Quality Control (QC) and production personnel will manage regulatory-compliance requirements. They will also streamline product import, receipt, storage, packaging and labeling, release, shipment, return and destruction timelines.
PAREXEL also is opening new full-service clinical trial supply depots in Buenos Aires, Argentina, and Sao Paulo, Brazil. The facilities are part of PAREXEL's growing global system of more than 50 owned or in-network depots and three regional distribution centers. They are designed to help ensure a seamless flow of materials and timely clinical site supply delivery around the world.
About PAREXEL International
PAREXEL International Corporation is a leading global biopharmaceutical services organization, providing a broad range of knowledge-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 81 locations in 51 countries around the world, and has approximately 15,980 employees. For more information about PAREXEL International visit www.PAREXEL.com.
PAREXEL is a registered trademark of PAREXEL International Corporation or its affiliates.
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 including the recent acquisitions of LIQUENT, Inc. and HERON, Inc., 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, 2014 as filed with the SEC onAugust 20, 2014, 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.
Diana Martin, Vice President, Corporate Communications
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Tel: +1 617-502-4300
Email: [email protected]