PAREXEL APPOINTS ANDREW L. SMITH PRESIDENT OF MEDICAL MARKETING SERVICES
BOSTON, MA, April 26, 2000 — PAREXEL International Corporation (Nasdaq: PRXL) today announced that it has appointed Andrew L. Smith as President of its Medical Marketing Services (MMS) Business Unit. Mr. Smith will oversee PAREXEL's global businesses in strategic medical marketing, reimbursement strategies, telecommunications services and Phase IV studies. Mr. Smith succeeds A. Joseph Eagle, who will be leaving PAREXEL effective June 30, 2000, after successfully managing the MMS business unit for two years. Mr. Eagle will remain an External Director for PAREXEL.
"Andrew brings more than twenty-five years of experience in the global pharmaceutical industry, with significant depth in general management, marketing, and sales. His mix of large and small company experience will be invaluable to us as the company continues to grow and evolve," said Josef von Rickenbach, Chairman and Chief Executive Officer. "We will miss Joe Eagle's leadership contribution, but are confident that Andrew can sustain the momentum in growth and profitability recently achieved by Joe in the MMS business. We are fortunate that Joe Eagle will remain on the Board and look forward to his continuing contribution."
Mr. Smith has worked in several blue-chip pharmaceutical companies, including SmithKline Beecham, Merck, Sharp and Dohme, and Hoechst-Roussel, as well as in a biotech company. Most recently, Mr. Smith was the Chief Executive Officer of Cerebrus plc, a UK-based biotechnology start-up. Prior to Cerebrus, he was Senior Vice President of SmithKline Beecham and Managing Director of its UK and Ireland operations. Earlier in his career he held a variety of sales management, marketing, and sales roles. He holds Bachelors and Masters degrees from Cambridge University.
Mr. Eagle joined PAREXEL in March 1998 when it acquired PPS Europe Ltd., a company he founded in 1989. Mr. Eagle immediately became President of MMS and joined PAREXEL's Board of Directors. Mr. Eagle led the successful integration of PAREXEL’s numerous acquisitions in the medical marketing area into a single global business unit.
This release may contain "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: the cancellation or delay of 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 pharmaceutical 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.
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 43 locations throughout 29 countries around the world, and has approximately 4,275 employees.