PAREXEL Expands Regional Distribution Center and Supply Depot Network to Enhance Global Clinical Logistics Services
Increases global capacity and adds new secondary packaging and labeling services to more efficiently deliver clinical trial supplies
Boston, MA, March 19, 2014 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced the expansion of its global Clinical Logistics Services (CLS) capabilities. A new, state-of-the-art distribution center in Singapore and the recent expansion of the Company's facilities in Billerica, Mass., will help PAREXEL more effectively manage clients' global clinical trial supply requirements.
PAREXEL's Clinical Logistics Services provides synchronized coordination of clinical trial supplies, central lab services, and ancillary supplies worldwide to ensure safe and timely distribution. The Company offers risk evaluation and mitigation planning for in-time-investigational-site supply, as well as expertise in global import/export compliance. New capabilities include secondary packaging and labeling services. The facility expansion builds upon PAREXEL's considerable global clinical logistics infrastructure in North America, Latin America, Europe, Africa and the Asia/Pacific region.
"As clinical trials increase in size and complexity, clients are challenged to develop and implement strategies that create consistent sourcing, manufacturing, storage and distribution processes along the supply chain," said Mark A. Goldberg, President and Chief Operating Officer, PAREXEL. "Our investments in these important distribution centers and depots are part of the Company's ongoing efforts to simplify the clinical trial journey for biopharmaceutical clients by supporting their growing global supply and logistics needs."
PAREXEL's clinical logistics facilities offer sophisticated capabilities that include enhanced expiry and update labeling services. These services eliminate the need to return supplies to the manufacturing organization, reduce study start-up time and help ensure timely first-patient-in milestones. Additional capabilities include a distribution and warehousing infrastructure to manage and transport clinical trial supplies to locations worldwide, as well as leading technology systems that track and trace shipments and manage inventory levels.
"PAREXEL continues to build a global network of storage and distribution facilities with harmonized configurations that provide a consistent and reliable flow of materials needed in the clinical trial process," said Kurt Norris, Corporate Vice President, Clinical Logistics Services, PAREXEL. "This reflects our commitment to provide leading-edge management of clinical trial materials to clients across the globe."
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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, 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., a subsidiary of PAREXEL, provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 76 locations in 50 countries around the world, and has 15,100 employees. For more information about PAREXEL International visit www.PAREXEL.com.
PAREXEL and "Your Journey. Our Mission." are trademarks or registered trademarks of PAREXEL International Corporation or its affiliates.
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 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 Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2013 as filed with the SEC on January 31, 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.