PAREXEL RANKS HIGHEST IN SERVICE QUALITY PREDICTABILITY AMONG PEERS - Company Is Top Performer Among Large CROs in Overall Satisfaction, Customer Loyalty and Project Team Chemistry in ISR’s 2011 CRO Quality Benchmarking Report
Boston, MA, June 16, 2011—PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, announced today that it ranked highest among large clinical research organizations (CROs) for the predictability of its service quality in the 2011 CRO Quality Benchmarking Report, an independent study conducted by Industry Standard Research (ISR). ISR’s report, which is a comprehensive source for data on CRO delivery quality and customer loyalty, surveyed 169 outsourcing decision makers in the biopharmaceutical industry from 73 different sponsor organizations. The respondents rated 33 service providers across 20 different service quality dimensions including staff characteristics and operational excellence, as well as organizational and financial characteristics.
In the ISR analysis of service provider performance, PAREXEL ranked highest among large CROs for overall satisfaction and customer loyalty. In a composite metric combining overall satisfaction with the willingness of a sponsor to recommend a service provider, and the likelihood of using a service provider again, the report ranked PAREXEL as the top performer among its peers.
In the category of staff characteristics, PAREXEL had the highest score among large CROs in project team chemistry. The results also showed that PAREXEL exceeded customer expectations in several key attributes, including therapeutic expertise, breadth of services, and global footprint.
“The high ratings PAREXEL achieved reinforce the success of our initiatives to raise the bar on industry quality to enable us to deliver greater value to our clients,” said Josef von Rickenbach, Chairman and Chief Executive Officer, PAREXEL. “This verification is testimony to the continual focus of our project leaders and teams to provide excellence in client service and quality. We look forward to continuing to have our expertise complement our client organizations throughout the product development process.”
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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 52 countries around the world, and has approximately 10,350 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 $15 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 Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 as filed with the SEC on May 10, 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.