PAREXEL INTERNATIONAL ANNOUNCES EXPANSION OF CLINICAL PHARMACOLOGY RESEARCH UNIT
BOSTON, MA, July 1, 2003 — PAREXEL International Corporation (Nasdaq: PRXL), today announced the expansion of its Clinical Pharmacology Research Unit (CPRU) located in Baltimore, Maryland. Situated on the seventh floor of the Harbor Hospital Center, the CPRU has increased in size from 11,000 square feet to 23,000 square feet and grown from 24 to 52 beds in two years. Trials conducted at this unit include, but are not limited to, First-in-Man, drug interaction, single and multiple dose, QT cardiac safety, anti-cytokine therapies, and recombinant vaccine studies. Clients have access to professional consultation and advisement services for customized, tailor-made offerings designed to meet their specific requirements.
"The goal of developing new compounds and bring them to market quickly hinges upon the success of early clinical trials," said Bernhardt H. Meyer, MD, PhD, FFPM, President, Worldwide Clinical Pharmacology. "Our Baltimore Unit provides a full range of clinical pharmacology services, specializing in meeting the needs of clients who require demanding studies involving complex procedures and monitoring techniques."
The newly expanded clinical pharmacology research unit is an integral part of the PAREXEL Clinical Pharmacology Network, which includes CPRUs in Berlin, Germany; Bloemfontein, South Africa; 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 sophisticated and 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 data capture (EDC), and electronic diary 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 58 locations throughout 36 countries around the world, and has approximately 5,100 employees.
This release contains "forward-looking" statements regarding future results and events. 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. 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 loss, modification, or delay of contracts; PAREXEL’s dependence on certain industries and clients; PAREXEL’s ability to win new business, manage growth, and 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 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 PAREXEL’s Registration Statement Amendment No. 1 on Form S-3/A, as filed with the Securities and Exchange Commission on May 22, 2003, which “Risk Factors” discussion is incorporated by reference in this press release. The forward-looking statements included in this press release represent PAREXEL’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 PAREXEL’s estimates or views as of any date subsequent to the date of this press release.