PAREXEL INTERNATIONAL ENHANCES PRESENCE IN LATIN AMERICA
BOSTON, MA, July 30, 2001 — PAREXEL International Corporation (Nasdaq: PRXL) today announced its acquisition of EDYABE, a leading Contract Research Organization in Latin America. The terms of the deal were not disclosed.
Established in 1970, EDYABE has offices in Argentina and Brazil, and has conducted clinical trials in Chile, Colombia, Costa Rica, Mexico, Panama, Peru, Uruguay, and Venezuela. The company has approximately fifty employees.
Josef H. von Rickenbach, PAREXEL’s Chairman and Chief Executive Officer stated, “We have conducted more than 20 multinational clinical trials in collaboration with EDYABE during the past four years. In the process, we have been very impressed with the quality of the company’s operations and its foothold throughout Latin America. We believe EDYABE’s strong network of investigators and sites will facilitate and speed patient accrual for our clients’ clinical trials in that region.”
Ricardo Glancszpigel, EDYABE’s founder and CEO stated, “We are pleased that the addition of our company’s locations will play an important role in enhancing PAREXEL’s extensive global footprint, while concurrently giving the Company a more formal presence in Latin America. I look forward to my role as head of PAREXEL’s Latin American operations, and to further strengthening our market presence in this part of the world.”
PAREXEL does not anticipate the acquisition to have a material impact on earnings per share for Fiscal 2002.
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 information technology 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 53 locations throughout 33 countries around the world, and has approximately 4,600 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. 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 restructurings; the cancellation, revision, or delay of contracts, including those contracts in backlog; 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 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 the Company's Form 10-Q for the period ended March 31, 2001, as filed with the Securities and Exchange Commission.