PAREXEL EXPANDS GLOBAL CLINICAL LOGISTICS CAPABILITIES Companies can avoid developing their own internal systems and managing multiple vendors by taking advantage of PAREXEL?s global team of experts and distribution infrastructure
BOSTON, MA, June 19, 2008 – PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services organization, today announced that it is expanding its clinical logistics capabilities to help clients more effectively manage their global clinical trial supply requirements. PAREXEL’s Clinical Logistics Services provide centralized coordination of clinical study supplies, lab services, and ancillary supplies worldwide. Capabilities include a distribution and warehousing infrastructure to properly handle and transport clinical study supplies to locations worldwide, and sophisticated technology systems to track shipments and inventory levels. The global clinical logistics team, with in-depth expertise in import and export regulations, oversees and coordinates multinational logistics.
“One of the most frequently reported causes of study delays is the lack of available study drug caused by late or incomplete arrival of clinical supplies. These problems can result in costly delays and cause critical milestones to be missed,” said Mark A. Goldberg, M.D., President of Clinical Research Services and Perceptive Informatics, PAREXEL. “With growing study complexity and increasing globalization of clinical research, biopharmaceutical companies need to fully integrate clinical logistics into study design and execution. PAREXEL is responding to client needs by continuing to provide end-to-end management of clinical logistics, with a focus on reliable delivery of study-related supplies.”
“Specialized knowledge and significant resources are required to effectively manage global clinical logistics. In this regard, companies can avoid developing their own internal systems and having to manage multiple vendors by outsourcing clinical logistics to PAREXEL, taking advantage of our global team of experts and our distribution infrastructure to reduce costs, improve compliance, and increase efficiencies,” said Joe Avellone, M.D., Corporate Vice President, Operations, Clinical Research Services, PAREXEL.
PAREXEL’s Clinical Logistics Services are an integral part of PAREXEL’s Clinical Research Services. This integrated approach allows for logistical planning to be incorporated into the clinical study process from the beginning, so that the supply system meshes seamlessly with study requirements and timelines.
PAREXEL’s Clinical Logistics Services, which are compliant with regulatory guidelines, include:
- Clinical trial supply management, which includes coordinating drug supply manufacturing, managing import/export requirements, labeling, warehousing, distribution, inventory control, and return and destruction of unused medication;
- Lab services, which include organizing a centralized lab system, supplying forms and kits for patient visits, overseeing transportation logistics for lab samples, and managing lab data; and
- Ancillary supply management, such as distributing testing and diagnostic equipment, maintaining lab supplies, and providing Case Report Forms (CRFs), investigator brochures, and other clinical site documents.
The Clinical Logistics Services are supported by enabling technology solutions, including Interactive Voice and Web Response Systems (IVRS/IWRS), and systems for product tracking, laboratory operations management, and warehouse management.
About PAREXEL International
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 63 locations throughout 52 countries around the world, and has more than 7,600 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, 2008 as filed with the SEC on May 9, 2008, 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.