Company broadens portfolio of regulatory information management solutions to enhance client value
Boston, MA, February 19, 2014 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced the launch of a new service line designed to provide a focused, market-driven approach to regulatory outsourcing services in the life sciences industry, with a primary emphasis on post-approval regulatory activities.
Through PAREXEL Regulatory Outsourcing Services, the Company will customize these services for clients based upon their unique needs and business challenges by combining expertise, operational approaches and technology. The service line will reside within the PAREXEL Consulting business segment.
"With the ever-changing regulatory environment, pharmaceutical companies face new challenges that need to be addressed with efficiency and cost in mind," said Mark A. Goldberg, M.D., President and Chief Operating Officer, PAREXEL. "PAREXEL is uniquely positioned to provide this new service offering, given our regulatory expertise, global operational capabilities and information management technology. Clients will now be able to outsource significant portions of their regulatory activities to a trusted partner in a cost-effective manner."
"Regulatory outsourcing is growing increasingly important in the market as more and more companies rely on outsourcing to help them with the complex task of managing their regulatory needs, especially the regulatory maintenance of their marketed products," said Rick Riegel, Corporate Vice President and new head of the PAREXEL Regulatory Outsourcing Services line. "This service offering provides a unique solution that addresses new pressures felt by our clients, allowing them to become more efficient in the area of regulatory operations and affairs."
The launch of PAREXEL Regulatory Outsourcing Services broadens PAREXEL's portfolio of regulatory information management solutions. In 2012, PAREXEL's acquisition of LIQUENT, Inc. strengthened its regulatory capabilities by adding a robust information technology platform, LIQUENT InSightR.