PAREXEL CELEBRATES 10 YEARS ON NASDAQ
BOSTON, MA, November 16, 2005 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global bio/pharmaceutical services organization, today announced that Chairman and CEO Josef von Rickenbach will ring the opening bell at The NASDAQ Stock Market to celebrate the tenth anniversary of the Company’s listing on NASDAQ.
“PAREXEL has valued our ten-year relationship with NASDAQ, which has provided a stable and powerful trading platform for investors as we have expanded our business to provide expertise across the continuum of development and commercialization,” said Josef von Rickenbach, Chairman and CEO of PAREXEL International. PAREXEL’s services encompass drug development and regulatory affairs consulting, clinical research services, technology products and services and medical marketing.
A Decade of Growth
PAREXEL’s accomplishments during the ten years that the Company has traded on NASDAQ include:
- Growing its employee base from 815 employees to about 5,230 today
- Expanding its global footprint from a presence in 6 countries to 38 countries
- Developing its client base from approximately 200 clients to over 1,200 clients currently
- Increasing total service revenue from approximately $80 million in Fiscal 1995 to $545 million in Fiscal 2005, a compound annual growth rate of over 20 percent
“PAREXEL’s success has been propelled by the talent and dedication of our employees and the continued demand from clients for our expertise,” said von Rickenbach. “We expect that the consistent trend towards increased levels of outsourcing will help create future growth for PAREXEL.”
“Over the next decade, as bio/pharmaceutical companies intensify their development activities, they will require additional expertise and resources to move discoveries through development to commercialization in increasingly global markets. We look forward to continuing to work with clients to bring new therapies to international markets and thereby contribute to ongoing improvements in healthcare worldwide,” concluded von Rickenbach.
PAREXEL International Corporation is a leading global bio/pharmaceutical services organization, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. Perceptive Informatics, Inc., a subsidiary of PAREXEL, provides advanced technology solutions, including medical imaging, Clinical Trial Management Systems (CTMS), Interactive Voice Response Systems (IVRS) and integration services. Headquartered near Boston, Massachusetts, PAREXEL operates in 52 locations throughout 38 countries around the world, and has approximately 5,230 employees. For more information about PAREXEL, visit the Company’s website at: www.PAREXEL.com.
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”, “targets” and similar expressions are also intended to identify forward-looking statements. The forward-looking statements in this release involve a number of risks and uncertainties. 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 loss, modification, or delay of contracts which would, among other things, adversely impact the Company’s recognition of revenue included in backlog; the Company's dependence on certain industries and clients; the Company's ability to win new business, manage growth and costs, 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 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 the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2005 as filed with the SEC on November 9, 2005, which “Risk Factors” discussion is incorporated by reference in this press 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.
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 business and are hereby acknowledged.