PAREXEL INTERNATIONAL ANNOUNCES THE MEDICARE DRUG MONITOR?
BOSTON, MA, January 8, 2004 — PAREXEL International Corporation (Nasdaq: PRXL) has announced the launch of Medicare Drug Monitor™, a new, informative quarterly journal focusing on the Medicare prescription drug benefit and other recently enacted Medicare reforms for drugs and biologics.
The Medicare Prescription Drug, Improvement and Modernization Act of 2003 brought comprehensive benefit and payment provision changes to the Medicare program. The implications of this legislation are just beginning to unfold for the bio-pharmaceutical industry as well as for policy-makers at the federal and state levels, private insurers, and patient advocates.
Developed and guided by a team composed of top health policy and drug reimbursement experts, the Medicare Drug Monitor™ will answer questions and provide guidance and advice on future developments and evolving issues. Each issue of the Medicare Drug Monitor™ will contain in-depth articles on important issues as well as sections detailing newly issued regulations, coverage decisions, coding challenges, new products, and perspectives important to state Medicaid programs, dual eligible populations, and other public payer programs.
“This publication will be a valuable source of accurate and timely information on Medicare drug coverage for manufacturers, public and private payers, providers, policy researchers, and many others,” stated Chris Mancill, Editor-in-Chief, Medicare Drug Monitor™. Timothy Pitchford, Vice President, Medical Marketing Services, added, “The journal will provide informative updates and in-depth analyses of legislative developments, Medicare prescription drug benefit implementation, contracts under the new program, and much more.”
For further information, visit www.parexelonpolicy.com. Annual subscriptions are available for $250. A discounted rate is available for academic institutions, non-profit organizations, and federal/state agencies. PAREXEL also publishes the Medicaid Pharmacy Bulletin, The ADAP Report, Mental Health Issues Today, and the Quarterly Medicaid Managed Care Enrollment Tracking Report.
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 5,105 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. 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 Form 10-Q for the quarter ended September 30, 2003 as filed with the Securities and Exchange Commission on November 12, 2003, which “Risk Factors” discussion is incorporated by reference in this press release. PAREXEL specifically disclaims any obligation to update forward-looking statements in the future. The 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.