PAREXEL INTERNATIONAL NAMES MICHAEL E. WOEHLER, Ph.D. AS PRESIDENT, CLINICAL RESEARCH SERVICES
BOSTON, MA, January 24, 2002 — PAREXEL International Corporation, (Nasdaq: PRXL), one of the world’s largest biopharmaceutical outsourcing companies, today announced the promotion of Michael E. Woehler, Ph.D. to President, Clinical Research Services (CRS). Dr. Woehler most recently served as PAREXEL’s Senior Vice President for Clinical Research Services in North America.
“Dr. Woehler will focus on strengthening PAREXEL’s worldwide clinical research operations and enhancing the Company’s reputation for client-focused service,” said Carl A. Spalding, President and Chief Operating Officer. “Since joining PAREXEL, Dr. Woehler has made important contributions to generating new business and improving operational effectiveness, while providing strong client-focused leadership to the North American Clinical Research Services business.”
“PAREXEL remains committed to global leadership in biopharmaceutical outsourcing and expects to see continued significant revenue and margin growth from Europe, Asia/Pacific and Latin America, as well as North America,” stated Josef H. von Rickenbach, Chairman and Chief Executive Officer.
Dr. Woehler possesses extensive experience in senior-level management, business development and research in the pharmaceutical and biotech industries. Prior to joining PAREXEL, he served as President and Chief Executive Officer of Mosaic Technologies, a private company marketing unique DNA analysis technologies. Previously, he held several senior-level positions with Pharmacia Biotech for 19 years, most recently serving as President, with responsibility for the worldwide protein/DNA separations business. Dr. Woehler received his B.S. in Biology and Chemistry from Northwestern University and a Ph.D. in Immunology from Marquette University.
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 55 locations throughout 36 countries around the world, and has approximately 4,660 employees.
This release contains "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", “estimates”, “projects” 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-Q for the period ended September 30, 2001, as filed with the Securities and Exchange Commission, which “Risk Factors” discussion is incorporated by reference in this press release. The Company disclaims any duty to update any of the forward-looking statements contained in this press release.