PAREXEL STRENGTHENS LEADING PRESENCE IN THE ASIA/PACIFIC REGION WITH TWO NEW LOCATIONS IN CHINA
Boston, MA, May 13, 2010 —PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced that the Company has opened offices in Chengdu and Guangzhou, China to support a growing requirement for a broad range of clinical development and regulatory consulting capabilities in the country and throughout the Asia/Pacific region. These locations further expand PAREXEL’s presence in China, which includes offices in Beijing and Shanghai as well as Kowloon, Hong Kong. PAREXEL now has 17 offices throughout important biopharmaceutical centers in the Asia/Pacific region, which in addition to China also includes a strong presence in Australia, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Taiwan, and Thailand.
“China, which is one of the fastest growing pharmaceutical markets in the world, is forecasted to become the fifth largest market this year, and reach approximately $47 billion in size by 2013,” said Josef von Rickenbach, Chairman and Chief Executive Officer of PAREXEL International. “Foreseeing China’s potential for clients, PAREXEL was a pioneer in establishing a firm foundation for clinical development in the country. Further expansion of expert resources in Asia is designed to meet client demand for greater opportunities to include China in their global drug development strategies and obtain China market registration.”
According to Mr. von Rickenbach, “We believe that China is attractive for a wide range of clinical development activities due to its large patient population, cost effective environment, and expanding medical infrastructure. A high prevalence of certain cancers, diabetes and other diseases in China can benefit from more extensive clinical research. We are working with clients to reduce their development costs, accelerate patient recruitment, and decrease time to market by incorporating China in global development planning, thereby bringing important new safe and effective treatments to patients in China and around the world sooner.”
The opening of PAREXEL’s latest offices in the Asia/Pacific region, where the Company has had a presence for approximately 15 years, reinforces its long-term commitment to providing clients with a high level of service and quality clinical development solutions in this geography. Today, PAREXEL is one of the area’s leading providers of biopharmaceutical services, helping clients design drug development programs and conduct studies regionally and internationally. PAREXEL experts support biopharmaceutical companies in accessing diverse patient populations, navigating regulatory issues, identifying investigators, and ensuring data quality throughout the Asia/Pacific region.
For information about PAREXEL’s global clinical research services, visit http://www.PAREXEL.com/clinical_research.html. For additional information about PAREXEL’s capabilities in Asia and other emerging regions, and to access the white paper entitled “Country-by-country insights into the key challenges and opportunities for development in the Asia/Pacific region” visit http://www.PAREXEL.com/emerging-regions.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 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.