PAREXEL, MITSUBISHI CHEMICAL SAFETY INSTITUTE LTD. OF JAPAN ANNOUNCE STRATEGIC ALLIANCE
BOSTON, MA, October 19, 2001 — PAREXEL International Corporation (Nasdaq: PRXL), one of the world’s largest biopharmaceutical outsourcing organizations, and Mitsubishi Chemical Safety Institute Ltd. (MSI), one of the largest contract service laboratories in Japan, announced an exclusive co-marketing agreement to deliver PAREXEL’s comprehensive services to biopharmaceutical companies throughout Japan. With a full range of biopharmaceutical development services - spanning pre-clinical through regulatory approval as well as marketing, medical education, web-based technology solutions and process improvement, it’s expected that the PAREXEL and MSI collaboration will help Japanese companies achieve their business goals and compete effectively in the global marketplace.
“This strategic alliance brings together two leading organizations whose applied experience and resources will further expand our drug development capabilities and contribute to enhanced medical treatment in Japan,” stated Josef H. von Rickenbach, Chairman and CEO, PAREXEL International Corporation. “We are pleased to work with MSI as we strive to provide our clients with a more extensive level of services in Japan.”
“Through this new relationship, we are adding our pre-clinical safety testing capabilities to PAREXEL’s broad range of biopharmaceutical solutions, enabling us to maximize drug development for Japanese pharmaceutical clients,” stated Jiro Saito, President, Mitsubishi Chemical Safety Institute Ltd. “We believe that through our collaboration with PAREXEL, we are better positioned as a solid player in this environment.”
PAREXEL is one of the largest contract biopharmaceutical 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 54 locations throughout 35 countries around the world, and has over 4,640 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 win new business, manage growth, and 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-K for the period ended June 30, 2001, as filed with the Securities and Exchange Commission.