PAREXEL ENHANCES STUDY START-UP AND RECRUITMENT CAPABILITIES WITH APPOINTMENT OF DR. LARS-OLOF ERIKSSON, FORMERLY WITH MERCK
Boston, MA, June 11, 2009 – PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, has appointed Lars-Olof Eriksson, Ph.D., MS.c., to the position of Vice President of its Start-up and Accelerated Recruitment Team (START). Formerly a Senior Director in Clinical Research Operations specializing in patient recruitment at Merck & Co., Inc., Dr. Eriksson leads a global team of PAREXEL experts in providing a strategic, comprehensive approach to accelerate study initiation and achieve last patient in (LPI) milestones for regional and international clinical trials conducted by PAREXEL for its clients.
“Approximately 45% of study delays are due to patient recruitment and enrollment issues. To help biopharmaceutical companies overcome these costly delays, PAREXEL has expanded our study start-up and recruitment capabilities under the leadership of Dr. Eriksson,” said Mark A. Goldberg, M.D., Chief Operating Officer, PAREXEL. “As the number, size, and complexity of trials increase, we expect our clients to benefit significantly from the additional depth of Dr. Eriksson’s expertise in achieving faster timelines and superior clinical program performance.”
“It is critical that biopharmaceutical companies take a strategic approach to their clinical development plans, including placing greater focus on study design and feasibility assessments in order to generate the most success at the recruitment and retention phases of a study,” said Dr. Eriksson. “Working with clients, our dedicated experts apply a proactive method to study-start up and recruitment, which includes identification of high performance investigators and sites, access to diverse patient populations, and use of proprietary recruitment tools, data assets, and processes as well as implementation of sophisticated contingency-based escalation strategies.”
Dr. Eriksson has more than 30 years of experience in patient recruitment, site implementation, project management, and global drug development. He has extensive expertise in implementing programs across Europe, North America, and Latin America. Prior to his previous position in Clinical Research Operations, Dr. Eriksson had responsibility for worldwide site implementation at Merck. He is currently an Associate Professor at the University of Medicine & Dentistry of New Jersey in the School of Health Related Professions. Dr. Eriksson is a frequent speaker at industry conferences and has authored several publications on the topics of patient recruitment, site performance, and drug development.
PAREXEL’s study start-up and recruitment experts actively manage the study start-up process against accurate baselines and projections to improve patient outreach and site management capabilities to support LPI goals. The team is focused on ensuring clinical trials begin on time and are effectively managed from start to finish. For more information about PAREXEL’s study-start up and recruitment capabilities visit: http://www.PAREXEL.com/clinical_research/patient_recruitment.html
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About PAREXEL International
PAREXEL International Corporation is a leading global biopharmaceutical 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 69 locations throughout 52 countries around the world, and has over 9,400 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, including, but not limited to, the successful business integration and anticipated synergy achievements in connection with the ClinPhone acquisition; 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 quarter ended March 31, 2009 as filed with the SEC on May 8, 2009, 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 PAREXEL International Corporation, Perceptive Informatics, Inc. or their respective owners and are hereby acknowledged.