PAREXEL EXPANDS COMMERCIALIZATION CAPABILITIES WITH DEDICATED TEAM TO HELP BIOPHARMA COMPANIES DEMONSTRATE PRODUCT VALUE
Boston, MA, October 25, 2011—PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced that the Company has expanded its capabilities to provide biopharmaceutical companies with dedicated support for their commercialization goals. PAREXEL has fully integrated its commercialization services to help clients maximize regional and global market access opportunities. These solutions align reimbursement strategies with clinical development to gather the precise data required to demonstrate product value.
“More than ever our clients are faced with the acute need to prove that their products demonstrate value, in addition to safety and efficacy. Biopharmaceutical companies need to address commercialization goals as early as possible to develop products and acquire the right data to receive reimbursement approval in the most efficient way,” said Gadi Saarony, Corporate Vice President and Worldwide Head, PAREXEL Consulting and Medical Communications Services.
According to Mr. Saarony, “We help clients prepare the product for the market and the market for the product through the alignment and integration of regulatory, clinical and commercialization strategies. Among the key advantages we offer to clients is that as a CRO we can draw on our experience developing products across all phases and a broad range of therapeutic areas to inform their commercialization strategies with meaningful scientific and clinical considerations. Through the expansion of our services, we are well positioned to help our clients optimize their products for efficient development and regulatory approval, as well as to achieve commercial success.”
The PAREXEL commercialization services support the evolving needs of Health Economics and Outcomes Research (HEOR), Medical Affairs, Marketing, Reimbursement, and Managed Markets functions at biopharmaceutical company organizations. Clients benefit from the access PAREXEL has to a global network of Key Opinion Leaders (KOLs), as well as its database of global clinical trial experience, to assist in the development of effective commercialization strategies.
Designed to meet regional and global client needs, PAREXEL commercialization services include:
- Commercialization, reimbursement and market access strategy
- Payer communications
- Publication strategy
- Global value and Academy of Managed Care Pharmacy (AMCP) dossier development
- Health outcomes analysis and economic modeling
The PAREXEL Commercialization Services team includes experts located throughout four continents who bring experience to biopharmaceutical companies in the areas of product management, market access, reimbursement and managed markets, as well as health outcomes, economics, and policy development and modeling. The team includes a cadre of former biopharmaceutical industry leaders, scientific researchers, regulators, and medical writers, as well as product development and management experts. These experts provide solutions for clients that are aligned to the product development and life cycle management processes.
PAREXEL helps biopharmaceutical companies to maximize the value of their products through launch and over the entire product lifecycle. PAREXEL provides commercialization solutions that deliver effective alignment of development and commercialization strategies as early as possible in the development process. For more information about commercialization services from PAREXEL visit: http://www.parexel.com/services-and-capabilities/consulting/reimbursement-market-access/.
# # #
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 52 countries around the world, and has approximately 10,550 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,” “should,” “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 $18 million over the fourth quarter of Fiscal Year 2011 as well as the first and second quarters of Fiscal Year 2012; 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 Annual Report on Form 10-K for the fiscal year ended June 30, 2011 as filed with the SEC on August 26, 2011, 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.