PAREXEL OPENS CLINICAL LOGISTICS FACILITIES IN SINGAPORE AND RUSSIA New Sites Will Help Address Industry Demand for Expanded Clinical Trial Supplies Handling and Transport in Emerging Regions
Boston, MA, December 6, 2010 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced that it has opened two new Clinical Logistics Services facilities in emerging regions for biopharmaceutical development. PAREXEL’s new depot in Singapore and ancillary warehouse in Russia will support its clients in more effectively managing their global clinical trial supply requirements. These facilities serve as an extension of PAREXEL’s existing infrastructure of depots and ancillary warehouses based throughout North America, Latin America, Europe, and Africa, as well the Asia/Pacific region.
With one of the largest and most comprehensive clinical research organizations in Eastern Europe and the Asia/Pacific region, PAREXEL has further strengthened its ability to meet the Clinical Logistics ServicesClinical Logistics Services needs of its clients through the addition of these new facilities. The new depot in Singapore handles the distribution of investigational medicinal products and non-investigational medicinal products, as well as ancillary supplies needed for clinical trials conducted by PAREXEL. The Company's new ancillary warehouse in Russia is intended to store any non-drug material required for clinical trials in Russia, including lab kits, drug application material, and medical supplies and equipment, as well as documents, such as patient diaries and questionnaires. The new facilities feature 24/7/365 monitoring systems, and provide a number of services to PAREXEL’s clients including inventory management, as well as return and destruction capabilities.
“The opening of these new facilities within our global Clinical Logistics Services infrastructure positions us to meet increasing client demand for high quality clinical trial supplies handling and transport in emerging regions,” said Joe Avellone, M.D., Corporate Vice President, Clinical Research Services, PAREXEL. “The depot in Singapore, which is a leading logistics hub for the Asia/Pacific region, with best-in-class transportation performance and favorable import/export regulations, will help us to more easily service countries throughout Asia for our clients. Additionally, given that study materials need to be imported into Russia well in advance of investigational site distribution, our dedicated warehouse capabilities will help us assist clients in decreasing both costs and the time involved in transporting supplies to sites in the country.”
PAREXEL’s Clinical Logistics Services Group provides high quality, centralized coordination of clinical trial supplies, central lab services, and ancillary supplies. Capabilities include supply planning and management, as well as distribution and warehousing infrastructure to handle and transport trial supplies to locations worldwide, and sophisticated technology systems to track shipments and inventory levels. For more information, visit: http://www.parexel.com/services-and-capabilities/clinical-research/clinical-logistics-services.
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About PAREXEL International
PAREXEL International Corporation is a leading global bio/pharmaceutical services organization, providing a broad range of knowledge-based contract research, consulting, and medical communications 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 10,170 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, 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 September 30, 2010 as filed with the SEC on November 9, 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.