PAREXEL INTERNATIONAL AND RTI HEALTH SOLUTIONS? ESTABLISH COLLABORATIVE AGREEMENT
BOSTON, MA, May 30, 2001 — PAREXEL International Corporation, (Nasdaq: PRXL) one of the world’s largest Contract Research Services Organizations, today announced a collaborative agreement with RTI Health Solutions™ (RTI-HS), a Research Triangle Institute business unit, to co-market health economics and outcomes research capabilities for use in clinical research programs. Economics and outcomes analysis helps clients to optimize the value of bio-pharmaceutical products throughout the product development life cycle.
Under the terms of the agreement, PAREXEL will combine its comprehensive clinical development and medical marketing services with RTI-HS’ competence in economic evaluation and measurement of patient-reported outcomes to provide comprehensive development services to the global pharmaceutical and biotechnological industries.
“This agreement reflects PAREXEL’s strategy of focusing on opportunities that strengthen and expand our clinical development capabilities,” said Josef H. von Rickenbach, Chairman and CEO of PAREXEL. “We are pleased to collaborate with RTI-HS and consider them to be an optimal ally in providing clients economics and outcomes data. The synergies of this arrangement will enhance both organizations’ ability to deliver quality clinical development services as we work with clients to bring new products to market and to position them among current treatments.”
Josephine Mauskopf, Ph.D., Executive Director of RTI-HS, stated, “Through this alliance, we are adding our expertise in health economics and survey research to PAREXEL’S services, enabling us – together – to offer our clients insight into the comparative value of pharmaceutical products.”
“The value of health economics and outcomes research is best measured by the difference it makes in patients’ lives,” said Victoria Haynes, Ph.D., President of Research Triangle Institute. “Due to this new relationship with PAREXEL, we will be able to more effectively demonstrate the critical contribution of pharmaceuticals to improving health. This fits well with our mission ‘to improve the human condition’.”
Overview of RTI Health Solutions
RTI Health Solutions is a business unit of the Research Triangle Institute (RTI). RTI and its research staff have received some of the most prestigious professional awards for pharmaceutical and public health research. Recent awards include the Charles F. Kettering Prize for R&D on the treatment and diagnosis of cancer, the American Public Health Association's annual award for outstanding contributions to public health research, and the President's Citation from the American Otologic Society. RTI Health Solutions is a multi-national health economics and outcomes research organization. RTI-HS works with pharmaceutical, medical device and other health industry clients to assess the value of healthcare products throughout their life cycle. Health industry clients select RTI Health Solutions for the breadth and depth of its scientific staff, which includes economists, psychometricians, and survey researchers. Headquartered in Research Triangle Park, NC, RTI employs over 1,900 at offices in the United States and the United Kingdom, with additional project offices in Europe, Africa, and Asia. www.rti.org
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 expedite 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. Its newest subsidiary, Perceptive Informatics, Inc., provides a variety of technology products and services, including web-based portal solutions and voice and data systems, which are designed to accelerate and enhance the clinical development and launch processes. 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 51 locations throughout 29 countries around the world, and has approximately 4,550 employees.
This release may contain "forward-looking" statements regarding future results and events, including statements regarding expected financial results, future growth and customer demand that involve a number of risks and uncertainties. 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" and similar expressions are intended to identify forward-looking statements. PAREXEL'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 restructurings; the cancellation, revision, or delay of contracts, including those contracts in backlog; PAREXEL's dependence on certain industries and clients; PAREXEL's ability to manage growth and its ability to attract and retain employees; PAREXEL's ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business; 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. Such factors and others are discussed more fully in the section entitled "Risk Factors" of PAREXEL's Form 10-Q for the period ended March 31, 2001 as filed with the Securities and Exchange Commission.