PAREXEL INTERNATIONAL INTRODUCES PAREXEL CONSULTING
BOSTON, MA, September 20, 2004 — PAREXEL International Corporation (Nasdaq: PRXL), one of the world’s largest biopharmaceutical outsourcing companies, announced the launch of its business unit, PAREXEL Consulting (PC). The new strategic business unit replaces the former PAREXEL Consulting Group (PCG), and integrates the existing Worldwide Regulatory Affairs, Management and Process Consulting and KMI/PAREXEL, the Company’s manufacturing compliance and validation unit, businesses into one single business unit. Clinical Pharmacology, which had been part of PCG, is now part of the Clinical Research Services Strategic Business Unit. Under the new banner, PAREXEL Consulting assists pharmaceutical, biotechnology and medical device companies in creating drug and medical device development programs and regulatory strategies as well as program focused on optimizing processes and increasing organizational effectiveness.
“This business unit addresses the growing need for bio/pharmaceutical consulting services, particularly from emerging and medium-sized companies, by providing a single source of expertise in all technical disciplines relevant to drug and medical device development,” stated Kurt A. Brykman, President PAREXEL Consulting. “In addition, as larger pharmaceutical clients continue to look for ways to improve operational efficiency and productivity in a challenging regulatory environment, PAREXEL Consulting provides expertise in the areas of process optimization, organizational effectiveness and regulatory compliance. Our consultants evaluate existing processes and workflows and propose the implementation of improvements that focus on increasing operational performance and accelerating time to market.”
The Company believes that PAREXEL Consulting's combination of global capabilities and in-depth regional knowledge delivers to its clients a full range of expertise coupled with the experience and flexibility to address local regulatory requirements. PAREXEL Consulting’s worldwide team includes former regulatory officials and leading industry experts, offering consulting in regulatory strategy, chemistry/manufacturing, nonclinical and clinical development, pharmacovigilance and risk management, marketing planning, compliance, quality systems, technology implementation, and process and human performance optimization.
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 51 locations throughout 35 countries around the world, and has 4,875 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 Annual Report on Form 10-K for the year ended June 30, 2004 as filed with the SEC on September 10, 2004, which "Risk Factors" discussion is incorporated by reference in this press 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.