Boston, MA, July 24, 2012— PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced the launch of the PAREXEL BioPharm Unit – a dedicated unit within PAREXEL focused solely on the unique needs of small and mid-sized biopharmaceutical companies to help them achieve their development goals.
Recent data indicates that small and mid-sized companies are the engine of the biopharmaceutical industry, with 81 percent of ongoing development programs originating from sponsors outside of the top 25 biopharmaceutical companies. The PAREXEL BioPharm Unit seeks to support this critical pipeline by providing the precise expertise, global infrastructure, operational excellence and turn-key technologies needed to help small biopharmaceutical companies advance their drugs through the development cycle. Through vast experience and deep understanding of the needs of small and emerging biopharmaceutical companies', PAREXEL designed this new delivery model to provide a high level of attention and service. The goal is to provide a tailored solution that results in accelerated development timelines, reduced cost and a high level of quality.
"Small and mid-sized biopharmaceutical companies are truly the genesis of innovation and have been an important part of PAREXEL's client base for more than 30 years," said Ubavka DeNoble, Vice President of BioPharm Services. "The creation of the PAREXEL BioPharm Unit is especially important for small pharma and biotech sponsors that have needs that are meaningfully different from large pharma sponsors. The breadth and depth of our expertise gives us the ability to create customized solutions that are designed to meet the particular needs of each client —whether the company is a small research venture, a growing mid-sized business, or a global enterprise."
The PAREXEL BioPharm Unit provides a senior management leader and dedicated team offering ongoing, frequent communication and proactive solutions. Under the dedicated team model, PAREXEL's BioPharm Unit provides companies the opportunity to accelerate patient recruitment, increase the speed of study start-up, shorten time to database lock, and improve overall efficiency for meeting critical development milestones.
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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 71 locations throughout 50 countries around the world, and has approximately 11,920 employees. For more information about PAREXEL International visit www.PAREXEL.com.
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 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 quarter ended March 31, 2012 as filed with the SEC on May 10, 2012, 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 and PAREXEL MyTrials is a 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.