PAREXEL INTRODUCES NEW MEDICAL AND SCIENTIFIC OFFERING
BOSTON, MA, May 23, 2001 — PAREXEL International Corporation (Nasdaq: PRXL), one of the largest Contract Research Organizations, today announced a new initiative to support Pharmacovigilance & Post-Approval Services within its Scientific and Medical Services unit. PAREXEL has established a Safety Advisory Group to support the Company in the design and implementation of post-approval safety studies in compliance with global regulatory directives. This enables PAREXEL to provide expert scientific opinion in support of worldwide clinical development, marketing approval and post-marketing surveillance activities; helping clients to maximize the benefits and minimize the risks of their marketed products. The panel, comprised of individuals from academia and regulatory authorities, is chaired by Professor David Grahame-Smith, Emeritus Professor Clinical Pharmacology, Oxford, England.
“PAREXEL has a longstanding commitment to developing and delivering optimal pharmacovigilance methodologies and safety solutions to our clients,” stated Josef H. von Rickenbach, Chairman and CEO of PAREXEL. “The establishment of the Safety Advisory Group is an important step in our efforts to further enhance our pharmacovigilance and post-approval services. We believe that by offering clients the services of our Safety Advisory Group, we can assist them in meeting the inherent challenges in post-marketing surveillance, risk management and regulatory monitoring of their products.”
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.