PAREXEL AND UK-BASED CENTRAL SHEFFIELD UNIVERSITY HOSPITALS NHS TRUST ANNOUNCE COLLABORATIVE RESEARCH AGREEMENT
BOSTON, MA, February 21, 2000 — PAREXEL International Corporation (Nasdaq: PRXL) announced today that its wholly owned subsidiary, PAREXEL International Ltd., has entered into a collaborative research agreement with the Central Sheffield University Hospitals NHS Trust (CSUH), a research and teaching institution, located in the United Kingdom. Under the terms of the agreement, PAREXEL and CSUH will collaborate to offer clinical trials research services to pharmaceutical and biotechnology companies worldwide. The agreement reflects PAREXEL's strategy of forging relationships with leading academic medical centers to strengthen and expand its clinical research and development capabilities around the world.
CSUH represents 212 consultants and 372 active researchers who are currently conducting more than 250 clinical trials in The Royal Hallamshire Hospital, Weston Park Oncology Hospital, Charles Clifford Dental Hospital, and The Jessop Hospital for Women.
"This alliance with Central Sheffield University Hospitals NHS Trust is consistent with PAREXEL's strategy to focus on opportunities that strengthen and expand our clinical research capabilities," said Josef von Rickenbach, PAREXEL Chairman and CEO. "As clinical trials become increasingly more complex and global, this alliance, which integrates medical leadership and clinical research excellence, will extend our reach in Europe and prove to be beneficial to our clients."
Professor David Whitney, CSUH Chief Executive and Mr. David Ferguson, CSUH Medical Director stated, "PAREXEL is an industry leader and we are pleased to be involved in this collaboration. The alliance allows us to expand our existing clinical research activities for the benefit of all NHS patients and increases our ability to offer patients access to new therapies. We are committed to continually improving the quality of care within the National Health Service."
PAREXEL will include CSUH as part of its comprehensive offering of contract research, consulting and medical marketing services. CSUH will conduct research activities, including providing facilities for patient enrollment, investigators, and other consulting services as needed. PAREXEL and CSUH will offer contract clinical research and consulting services in all major therapeutic areas.
PAREXEL is one of the largest contract pharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that accelerate time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. The Company's integrated services, therapeutic area depth and sophisticated information technology, along with its experience in global drug development and product launch services, represent key competitive strengths. Headquartered near Boston, MA, PAREXEL operates in 44 locations throughout 29 countries around the world, and has approximately 4,580 employees.
This release contains "forward-looking" statements regarding future results and events, including statements regarding expected future growth and customer demand. The Company's actual future results may differ significantly from the results discussed in the forward-looking statements contained in this release. Factors that might cause such a difference include, but are not limited, to risks associated with: loss or delay of large contracts; the Company's dependence on certain industries and clients; the Company's ability to manage growth and its ability to attract and retain employees; the Company's ability to complete additional acquisitions and to integrate newly acquired businesses; government regulation of certain industries and clients; competition and consolidation within the 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. These 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 December 31, 1999.