PAREXEL PURCHASES INTEREST IN APEX ? AN ASIA-PACIFIC BASED CONTRACT RESEARCH ORGANIZATION
BOSTON, MA, April 17, 2003 — PAREXEL International Corporation (Nasdaq: PRXL) announced today that it had purchased a minority interest in APEX International Clinical Research Co., Ltd., a privately-held contract research organization with operations in Taiwan, Korea, China, Hong Kong, Singapore, Malaysia, Thailand and Australia. APEX provides clinical development services including global project management, regulatory affairs, study coordination, study monitoring, data management, statistical analysis, and medical writing. The terms of the deal were not disclosed.
APEX was founded in 1999 and has its headquarters in Taiwan. The company has approximately 140 employees who have a broad range of experience across a variety of therapeutic areas including endocrinology, infectious diseases, oncology, dermatology, cardiology, respiratory, gastroenterology and nervous system disorders. The company’s investigator database facilitates fast patient recruitment for clients, and the training courses it offers to investigators and clinical research associates are well regarded. APEX works according to ICH (International Conference on Harmonization) guidelines.
“The collaboration with APEX is part of our strategy to expand our global clinical research services into areas where there has been a demonstrated need from clients”, said Josef H. von Rickenbach, PAREXEL’s Chairman and Chief Executive Officer. “The capabilities of APEX and their strong investigator network effectively complement our existing services in the Asia/Pacific region. We are pleased to be forming an alliance with a company that has already established itself as a trusted partner with many of our pharmaceutical and biotechnology clients.”
Albert Liou, Chairman and Chief Executive Officer of APEX stated, “We are extremely excited about this collaboration with PAREXEL, which will combine the strength of our pharmaceutical development services in Asia with PAREXEL’s worldwide presence and expertise.”
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., provides a variety of technology products and services, including web-based portal solutions and voice and data systems, and the use and interpretation of medical images as clinical trial endpoints, 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 58 locations throughout 35 countries around the world, and has approximately 5,120 employees.
This release contains "forward-looking" statements regarding future results and events 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 and other international economic and political risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of the Company's Form 10-Q for the quarter ended December 31, 2002, as filed with the Securities and Exchange Commission, 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.