PAREXEL OPENS WASHINGTON D.C. ? AREA OFFICE TO OFFER CLIENTS GREATER ACCESS TO EXPANDING TEAM OF REGULATORY EXPERTS
BOSTON, MA, April 4, 2007 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global bio/pharmaceutical services provider, today announced that it has opened a Washington, D.C.- area office, located in Bethesda Maryland, to provide clients with improved access to its growing team of regulatory and product development experts.
“Building upon our existing consulting network in Washington, D.C., PAREXEL is formalizing its presence in this important government center to better meet client needs,” said Josef H. von Rickenbach, Chairman and Chief Executive Officer of PAREXEL. “With several recent appointments of senior level, Washington, D.C.-based experts who have extensive FDA backgrounds, including Dr. George Mills, formerly a Division Director at the Agency, we believe PAREXEL is prepared to meet increasing demand for regulatory expertise from international clients seeking product approval in the U.S.”
“Clients are looking to PAREXEL Consulting to optimize their product development plans, help them identify the best path to approval, and prepare for and attend milestone meetings with U.S. regulatory authorities. The Washington, D.C.- area office will allow us to promote even more productive interactions between our clients and the FDA, other government agencies, and scientific organizations,” said Kurt Brykman, President of PAREXEL Consulting and Medical communications. “Additionally, this location positions us closer to key clients in the Eastern U.S. bio/pharmaceutical corridor, who increasingly need specialized consulting support.”
The opening of PAREXEL’s Washington, D.C. area office will be celebrated with an invitation-only Open House event in early May, offering PAREXEL’s bio/pharmaceutical clients and partners as well as regulatory and industry representatives a unique networking opportunity. George Mills, M.D., Vice President of Medical Imaging Consulting for PAREXEL’s subsidiary Perceptive Informatics, who formerly served as Division Director of Medical Imaging and Hematology Products in the Office of Oncology Drug Products at the FDA’s Center for Drug Evaluation and Research (CDER), will present remarks. The event will also be hosted by many other PAREXEL experts, including the global management team of PAREXEL Consulting.
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.