PAREXEL CREATES ENTERPRISE INFORMATION PORTAL FOR LIFE SCIENCES COMPANIES
BOSTON, MA, June 12, 2000 — PAREXEL International Corporation (Nasdaq: PRXL) introduced today ParXnet™, a comprehensive web portal that brings enterprise-wide information to the desktop. The system affords access to data spanning the entire product life cycle and the full product portfolio of a pharmaceutical, biotechnology, or medical device company. The warehouse is populated by digital data feeds from a wide array of data sources that may be internal or external to the sponsor company. The information domains can include real-time clinical data; product information; launch, marketing, and sales plans; market intelligence; and all types of performance metrics, including financial data and project timelines. Users within the enterprise can customize their desktop to access views that support their day-to-day activities and role within the organization, all within carefully controlled security and privileging guidelines. If desired, portions of the system can also be made available to partner organizations, affiliates, investigators, prescribing health professionals, and consumers.
ParXnet™ augments the previously introduced tools ParXtrial™ and ParXlaunch™. ParXtrial™ is a trial-specific Intranet/Extranet that provides key trial management information, a comprehensive document repository, and creates a virtual community to facilitate communications between the sponsor, investigators, PAREXEL, and other study participants. ParXlaunch™ is an Intranet/Extranet-based information management tool that facilitates the coordination of worldwide product launches and product life cycle management within or across organizations.
PAREXEL also introduced today a new product known as ParXware™ that is designed to meet the needs of sponsors seeking data warehousing and mining capability for a single compound, rather than the entire enterprise. ParXware™ includes all of the functionality of ParXtrial™, while adding a clinical data repository with associated tools to browse, analyze, and mine the contained information.
"ParXnet™ allows our clients to create customized enterprise information portals that put the information and decision-making tools they need at their desktop, enabling more effective project management and communication, accelerated decision making, earlier identification of issues and opportunities, and enhanced portfolio management. With performance more critical than ever, these capabilities are extremely valuable to our clients," said Mark A. Goldberg, M.D., Senior Vice President of PAREXEL’s Advanced Technology & Informatics (ATI) Business Unit.
"Our stated goal is to be the leading provider of clinical development services, which means that we must innovate to help our clients improve their performance overall, and particularly in the clinical development arena," said Josef H. von Rickenbach, Chairman and Chief Executive Officer of PAREXEL International. "We created ATI as a standalone business unit to foster a climate of innovation, while also leveraging our deep expertise in product development and launch. To date, we have received very enthusiastic feedback on the ParXnet™ system and are pleased that our strategy is proving to be well-aligned with the needs of our clients."
ParXware™ will be previewed at the Drug Information Association’s 36th Annual Meeting and Conference in the San Diego Convention Center, June 11-15. PAREXEL is located in Booth # 1404-09. Additional information about ParXnet™ can be accessed on PAREXEL’s web site at www.PAREXEL.com. A password protected demonstrator site is also available.
This release may contain "forward-looking" statements regarding future results and events, including statements regarding expected financial results, 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. Important 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 March 31, 2000.
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.