FARMOVS-PAREXEL FORMS ALLIANCE WITH THE ACADEMIC GROUP PRACTICE, UNIVERSITY OF THE FREE STATE
BOSTON, MA, August 11, 2003 — PAREXEL International Corporation (Nasdaq: PRXL), a leading biopharmaceutical outsourcing provider, today announced that FARMOVS-PAREXEL, located in Bloemfontein, South Africa, has formed a strategic alliance with the Academic Group Practice (AGP) of the Faculty of Health Sciences, University of the Free State, also located in Bloemfontein. This alliance will leverage the clinical acumen of FARMOVS-PAREXEL with the capabilities and patient access of the AGP in the performance of clinical trials.
FARMOVS-PAREXEL’s offerings include Good Clinical Practice (GCP) training, project management, quality control, pharmacy services, and provision of research facilities and equipment. The AGP, an association of Faculty medical professionals, will provide clinical and specialist services and investigators in specific therapeutic areas in both hospital-based -and outpatient studies.
“We have collaborated successfully with AGP and Faculty members in psychiatry, pulmonology, and cardiology studies in the past,” said Bernhardt H. Meyer, MD, PhD, FFPM, President, PAREXEL Worldwide Clinical Pharmacology. “This alliance brings together key clinical expertise along with a comprehensive range of clinical pharmacology services to meet the needs of clients requiring complex therapeutic procedures and techniques in clinical trials.”
"By leveraging the expertise and experience of the AGP and combining this with our staffs' experience, we will be able to offer clients an expanded patient base for studies, which are a key factor in expediting the time to market," said Herman Scholtz, MD, Senior Director, Clinical Pharmacology, FARMOVS-PAREXEL.
"We believe that this agreement will be mutually beneficial as the broad range of service offerings by FARMOVS-PAREXEL and AGP complements one another,” stated Professor Danie Marx, Chairperson, Academic Group Practice, Faculty of Health Services, University of the Free State.
FARMOVS-PAREXEL is an established pharmacology research unit and bioanalytical laboratory dedicated to performing clinical pharmacology studies. Trials conducted at this unit include, but are not limited to, proof-of-concept, drug interaction, single and multiple dose, specialized PK/PD and biomarker, glucose clamp, spiro-ergometry, and recombinant vaccine studies. It is a part of the PAREXEL Clinical Pharmacology Network that includes Clinical Pharmacology Research Units in Baltimore, Maryland; Berlin, Germany; London, United Kingdom and bioanalytical laboratories in Bloemfontein and Poitiers, France offering more than 500 validated assay methods.
PAREXEL is one of the largest 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., develops and offers a portfolio of innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales. The technology portfolio includes web-based portal solutions and tracking tools, Interactive Voice Response Systems (IVRS), Clinical Trial Management Systems (CTMS), electronic diary and investigator database solutions. Perceptive also offers advanced medical diagnostics services to assess rapidly and objectively the safety and efficacy of new drugs, biologics, and medical devices in clinical trials. PAREXEL'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 57 locations throughout 36 countries around the world, and has 5,095 employees.
This release contains "forward-looking" statements regarding future results and events, including, without limitation, statements regarding the Company's existing capital resources and future cash flows from operations, and statements regarding expected financial results, future growth and customer demand, such as the guidance provided by the Company with respect to the first quarter of Fiscal 2004, the second half of calendar year 2003, and Fiscal 2004. 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. These statements involve a number of risks and uncertainties. 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 loss, modification, or delay of contracts; 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 the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry; competition within the biopharmaceutical services 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 and other international economic, political, and other risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of Amendment No. 3 to the Company's Registration Statement on Form S-3/A, as filed with the Securities and Exchange Commission on July 15, 2003, which "Risk Factors" discussion is incorporated by reference in this press release. The forward-looking statements included in this press release represent the Company’s estimates as of the date of this release. The Company specifically disclaims any obligation to update these forward-looking statements in the future. These forward-looking statements should not be relied upon as representing the Company's estimates or views as of any date subsequent to the date of this press release.