PAREXEL CELEBRATES 25th ANNIVERSARY WITH NASDAQ OPENING BELL CEREMONY
BOSTON, MA, June 4, 2007 – 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 on June 6, 2007 in celebration of the Company’s 25th anniversary. The ceremony will take place at 9:30 a.m. E.T. at NASDAQ's MarketSite Times Square Studio in New York City. The ceremony will also be broadcast simultaneously on NASDAQ's seven-story tower in Times Square.
“As one of the first clinical research organizations, PAREXEL broke new ground in the early 1980’s by developing a highly complex, multi-disciplinary and solutions-oriented approach to outsourced clinical development, bringing efficiencies, speed, scalability and standardization to the process,” said Josef von Rickenbach, Chairman and Chief Executive Officer, PAREXEL. “Over the past 25 years we have continued this focus, and have developed a broad portfolio of sophisticated services and technologies for our clients. From very large pharmaceutical companies to virtual biotechs, clients today rely on PAREXEL as a proven partner to provide the expertise, technology, and global reach to speed their products to market.”
“When we went public in 1995, NASDAQ was the obvious choice and has provided a powerful trading platform for our shareholders over the years. We were honored to ring the bell in celebration of our 10 year listing on NASDAQ, and are pleased to be back to honor the dedication of our employees and the loyalty of our customers who have contributed to our success in achieving this significant milestone,” continued von Rickenbach.
25 Years of Growth:
- PAREXEL was one of the first companies to formally define the clinical research service provider sector.
- PAREXEL is currently one of the three largest publicly-traded global bio/pharmaceutical services provider, and now operates in 55 locations throughout 43 countries and has more than 6,300 employees.
- PAREXEL’s experts, who have experience across a broad range of therapeutic areas, have supported nearly all of the top 50 best-selling drugs that are on the market today.
- Service revenue has grown from $80 million when the company started trading on NASDAQ in Fiscal Year 1995, to approximately $615 million at the end of Fiscal 2006.
- PAREXEL’s market capitalization surpassed the $1 billion dollar mark this year.
“This exciting milestone is a tribute to the expertise and commitment of our employees, and the continued loyalty of our clients which has resulted in many long-term partnerships over the years,” said von Rickenbach. “As we anticipate that client demand will continue to increase, we look forward to a bright future. We expect the next 25 years to hold the potential for significant advancement in the biopharmaceutical arena, and look forward to the role PAREXEL will play in helping our clients develop treatments, cures, and devices which will benefit the lives of future generations worldwide,” concluded von Rickenbach.
# # #
About the Company
PAREXEL International Corporation is a leading global bio/pharmaceutical services organization, providing a broad range of knowledge-based contract research, medical communications 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, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 55 locations throughout 43 countries around the world, and has over 6,315 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 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-Q for the period ended March 31, 2007 as filed with the SEC on May 9, 2007, 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.