PAREXEL APPOINTS LEADING NEUROSCIENCE EXPERT DR. JAMES J. VORNOV TO SENIOR MEDICAL DIRECTOR
BOSTON, MA, October 31, 2006 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global bio/pharmaceutical services organization, today announced that Dr. James J. Vornov, an internationally recognized neuroscience and drug development expert, has joined the Company’s Clinical Research Services group as a Senior Medical Director. Dr. Vornov will act as clinical practice leader and provide consultation to clients sponsoring clinical trials in the central nervous system (CNS) therapy area.
“Therapeutic area expertise is critical to the success of our customers’ programs. PAREXEL’s therapeutic area teams have played a key role in advancing treatments in CNS, Cardiovascular, Oncology, and Infectious Disease, to name a few,” said Mark A. Goldberg, M.D., President of Clinical Research Services and Perceptive Informatics at PAREXEL International. “Neurology is an important therapeutic area for many of our clients, and Dr. Vornov’s in-depth expertise further strengthens our ability to provide strategic consulting and leadership to advance their important treatments for a broad range of diseases affecting the central nervous system.”
Supplementing the expertise of PAREXEL’s neurological teams, Dr. Vornov will provide medical insight to clients throughout the clinical development continuum, ranging from development of clinical plans and design of protocols to the conduct of trials. PAREXEL Clinical Research Services helps clients accelerate their clinical development programs worldwide by applying experience with thousands of studies, established global standards and broad therapeutic expertise.
Before joining PAREXEL, Dr. Vornov held the positions of Senior Medical Director of Experimental Medicine at MGI Pharma, and Director of Clinical Development and Clinical Pharmacology at Guiford Pharmaceuticals, where he focused on the rapid transition of compounds into the clinic using biomarkers, pharmacokinetic and pharmacodynamic modeling, and clinical trial simulation. He has directed clinical development efforts in a number of disease areas including stroke and Parkinson’s Disease, as well as in the area of neuropathy and neuropathic pain. Dr. Vornov served on the faculty of Johns Hopkins School of Medicine in the Departments of Neurology and Neuroscience for 10 years. Dr. Vornov holds MD and Ph.D degrees from the Emory School of Medicine and completed his residency training at Johns Hopkins School of Medicine. He is Board Certified in Neurology. Dr. Vornov has authored numerous papers and book chapters and has spoken at international congresses on a wide array of neurological topics.
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 51 locations throughout 40 countries around the world, and has approximately 5,860 employees. For more information about PAREXEL International visit 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 amendment or interpretation of Financial Accounting Standards Board Statement No. 123 (revised 2004), Share-Based Payment (“Statement 123R”), which could change the Company’s current assessment of the effects of the adoption of Statement 123R on the acceleration of equity grants, the assumptions inherent in equity pricing models under Statement 123R and the final results of the closing of the Company’s books for future financial periods; 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; the impact on the Company’s business of government regulation of the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry and 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-K for the period ended June 30, 2006 as filed with the SEC on September 8, 2006, 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.
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.