PAREXEL RANKS AS A BEST 10 OUTSOURCING COMPANY FOR THE PHARMACEUTICAL INDUSTRY
Boston, MA, May 6, 2010 PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced that the Company has been ranked as a Best 10 outsourcing company for the pharmaceutical industry as part of The International Association of Outsourcing Professionals® (IAOP®) annual ranking The Global Outsourcing 100. The Best 10 sub-list for the pharmaceutical industry is one of the sub-lists included in The 2010 Global Outsourcing 100 program.
IAOP is in its fifth year of compiling its annual ranking of the world’s best outsourcing service providers and advisors—The Global Outsourcing 100. The Global Outsourcing 100 and its sub-lists are essential references for companies seeking new and expanded relationships with the best companies in the industry. The lists include companies from around the world that provide the full spectrum of outsourcing services. The independently judged evaluation process considers four key criteria: size and growth, customer experience, depth and breadth of competencies, and management capabilities.
“As the economy further recovers, partnering with the world’s best outsourcing providers and advisors will be more important than ever,” said IAOP Chairman Michael Corbett and chair of the judges’ panel. “The Global Outsourcing 100 helps companies easily identify those partners that will help them emerge as leaders.”
“PAREXEL is honored to be selected as a Best 10 outsourcing company for the pharmaceutical industry by the judges of The Global Outsourcing 100,” said Josef von Rickenbach, Chairman and Chief Executive Officer of PAREXEL International. “As there continues to be a growing focus in the biopharmaceutical industry on strategic partnerships between sponsors and service providers, PAREXEL is committed to continuing to develop new approaches to help our clients drive efficiency, accelerate time to market, reduce costs and expand reach into markets around the world. This recognition was possible through the continued support of our employees, clients, and partners. We look forward to further supporting the biopharmaceutical industry in bringing innovative, safe and effective medical treatments to patients worldwide. ”
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The International Association of Outsourcing Professionals® (IAOP®) is the global, standard-setting organization and advocate for the outsourcing profession. With more than 100,000 members and affiliates worldwide, IAOP helps companies increase their outsourcing success rate, improve their outsourcing ROI, and expand the opportunities for outsourcing across their businesses. To learn more, visit www.iaop.org.
The Global Outsourcing 100®, IAOP®, and the International Association of Outsourcing Professionals® are registered trademarks by the IAOP association.
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, such as the guidance provided by the Company with respect to the fourth quarter of Fiscal Year 2010, Fiscal Year 2010, and Calendar Year 2010. 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 December 31, 2009 as filed with the SEC on February 5, 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.