PAREXEL EXPANDS GLOBAL PRESENCE, FORMS COLLABORATION WITH CLINICAL RESEARCH SERVICES PROVIDER IN INDIA
BOSTON, MA, April 28, 2004 — PAREXEL International Corporation (Nasdaq: PRXL) today announced that it has entered into an exclusive strategic collaboration with Synchron Research Services Private Limited, a privately held contract research organization headquartered in Ahmedabad, India. Founded in 1998, Synchron provides a broad range of Phase I-IV clinical research services including regulatory affairs, quality assurance, statistical analysis and data management capabilities. Synchron’s facility also includes a 36-bed clinical pharmacology research unit for the conduct of bioequivalence, bioavailability and pharmacokinetic studies and a bioanalytical laboratory. Terms of the agreement were not disclosed.
Under the alliance, PAREXEL will leverage Synchron’s capabilities to benefit bio/pharmaceutical clients with expanded geographic coverage and patient recruitment capabilities in India and Bangalore. The alliance also provides Synchron’s customers with access to the clinical trial expertise, advanced technologies, and project management skills of PAREXEL, one of the world’s largest bio/pharmaceutical outsourcing providers.
"The collaboration with Synchron expands our global clinical research services into regions that should help expedite the drug development process for our clients," said Josef H. von Rickenbach, PAREXEL’s Chairman and Chief Executive Officer. "Our alliance with an established company headquartered in India underscores PAREXEL’s commitment to providing clients with comprehensive drug development services in emerging markets."
"Through our alliance with PAREXEL, we can now offer clients an extensive portfolio of clinical development solutions," stated Dr. Shivprakash, Ph.D., Chief Executive Officer, Synchron Research. "Our synergistic approach provides clients with enhanced clinical capabilities and strategies, enabling them to accelerate crucial time to market."
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 37 countries around the world, and has 5,050 employees.
PAREXEL is a registered trademark of PAREXEL International Corporation, and Perceptive Informatics is a trademark of Perceptive Informatics, Inc. All other names or marks may be registered trademarks or trademarks of their respective owners and are hereby acknowledged.
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. These statements involve a number of risks and uncertainties. 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 Quarterly Report on Form 10-Q for the quarter ended December 31, 2003 as filed with the SEC on February 10, 2004, 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. PAREXEL 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.