PAREXEL CHAIRMAN AND CEO NAMED EXECUTIVE OF THE YEAR IN NORTH AMERICA IN INTERNATIONAL BUSINESS AWARDS
Boston, MA, July 22, 2010—PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services organization, today announced that its Chairman of the Board and Chief Executive Officer Josef von Rickenbach has been named Executive of the Year in North America in the seventh annual International Business Awards,SM which celebrate excellence worldwide. PAREXEL helps pharmaceutical, biotechnology, and medical device companies worldwide develop and commercialize their products. The International Business Awards are the only global, all-encompassing business awards honoring outstanding performance in business.
Mr. von Rickenbach was selected as the winner of the Executive of the Year in North America category for his leadership excellence by an independent panel of internationally-based judges. Working with PAREXEL's management team, Mr. von Rickenbach has transformed the business to deliver a new level of strategic partnering. This initiative is focused on helping clients achieve their development goals as the biopharmaceutical industry faces the demands of a changing global marketplace and mounting pressure to improve R&D productivity. This honor also recognizes Mr. von Rickenbach’s guidance of continuing efforts by expert teams across the Company to support biomedical advances and help bring important treatments to patients worldwide.
“I am honored to be recognized by the judges of The International Business Awards. I am proud of PAREXEL’s achievements, including the continued commitment of our employees worldwide to deliver on our goal to be a premier partner to the biopharmaceutical industry. We have maintained a clear focus on our mission to combine the strength of our expertise, experience and innovation to advance the success of the industry in preventing and curing disease,” said Mr. von Rickenbach.
In addition to the recognition of Mr. von Rickenbach, the eClinical Suite from Perceptive Informatics, a subsidiary of PAREXEL, was named in The International Business Awards as Distinguished Honoree in the category of “Best New Product or Service of the Year: Computer Software—New Version.” This honor recognizes the Company’s focus on innovation and continuous investment in the next generation of technologies to accelerate clinical development.
Winners and honorees of The International Business Awards, selected from over 1,700 entries received from organizations and individuals in more than 40 countries, were determined through two rounds of judging by professionals worldwide. More information about the International Business Awards can be found at www.stevieawards.com/iba.
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About The Stevie Awards
Stevie Awards are conferred in four programs: The American Business Awards, The International Business Awards, The Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about The Stevie Awards at www.stevieawards.com.
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 71 locations throughout 54 countries around the world, and has approximately 9,500 employees. For more information about PAREXEL International visit www.PAREXEL.com.
This release contains “forward-looking” statements regarding future results and events, including, without limitation, statements regarding expected financial results, future growth and customer demand. 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,” “will,” “would,” “could,” “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 and anticipated restructurings, including the anticipated restructuring charge of approximately $24 million over the second, third, and fourth quarters of Fiscal Year 2010; 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 quarter ended March 31, 2010 as filed with the SEC on May 7, 2010 which “Risk Factors” discussion is incorporated by reference in this press 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.