PAREXEL CELEBRATES 25TH ANNIVERSARY; REFLECTS ON INDUSTRY MILESTONES
BOSTON, MA, March 6, 2007 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global bio/pharmaceutical services provider, is celebrating its 25th anniversary of providing outsourced services to the pharmaceutical, biotechnology and medical device industries. From its pioneering beginnings as one of the first clinical research organizations (CROs) more than two decades ago to its place as one of the top three public global service providers today, PAREXEL has evolved to provide a broad range of services to the bio/pharmaceutical industry. Clients have relied on the Company to provide integrated clinical development, regulatory affairs consulting, and commercialization services, as well as to offer technologies that expedite time-to-market.
Over the last 25 years, PAREXEL has expanded its portfolio of services and global footprint through a combination of organic growth, alliances, and acquisitions, including the purchase of CROs in emerging geographies, in order to provide expanded capabilities for its clients’ clinical development programs. PAREXEL now operates in 56 locations throughout 43 countries and has more than 6,200 employees.
“Over the years, we have remained focused on our mission to help our clients find new ways to prevent and cure disease, contributing to the development and launch of many new drugs and treatments,” said Josef von Rickenbach, Chairman and Chief Executive Officer, who co-founded PAREXEL in 1982. “As the bio/pharmaceutical industry continues to drive innovation, there is increasing opportunity for PAREXEL to provide the expertise, technology and global scale that both small and large companies require. Every day we work with clients to achieve their goals, whether it is by helping them control and manage risk in their programs, offering counsel and execution in the areas of safety and pharmacovigilance, or developing innovative clinical trial designs.”
Focused on bringing safe and effective products to the global marketplace for the patients who need them, 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. PAREXEL has also made several innovative contributions to the advancement of the bio/pharmaceutical industry during its history, and was one of the first companies to formally define the contract service provider sector. PAREXEL broke new ground in the early 1980s by conceiving of a highly complex, multi-disciplinary and systems-oriented approach to outsourced clinical development, bringing efficiencies, speed, scalability and standardization to the process. As the industry adopted new software and Internet-based systems, PAREXEL created an industry-leading advanced technology offering. Today, PAREXEL is a front runner in providing eClinical solutions through its subsidiary Perceptive Informatics, Inc.
PAREXEL will celebrate its 25th year through several external and internal activities. Company executives will ring the opening bell at the NASDAQ Stock Market on June 6, 2007 in celebration of PAREXEL’s 25th anniversary. The Company will share its anniversary celebration with clients at major industry conferences, including the Drug Information Association (DIA) Annual Euro Meeting in Vienna March 26-28, the Annual Partnerships with CROs Conference in Orlando April 10-12, the BIO International Convention in Boston May 6-9, and the DIA Annual Meeting in Atlanta June 17-21. For employees, PAREXEL will be hosting a Spotlight on Values Contest, which will honor those who stand out as model representatives of PAREXEL’s corporate values, which include integrity and ethics, client service, innovation, and teamwork.
Note: Source for best-selling drugs on the market: Med Ad News, June 2006
About PAREXEL International
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 56 locations throughout 43 countries around the world, and has over 6,215 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 December 31, 2006 as filed with the SEC on February 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.