PAREXEL AND ASAN MEDICAL CENTER ESTABLISH ALLIANCE TO ACCELERATE KOREA-BASED DRUG DEVELOPMENT AND COMMERCIALIZATION PROGRAMS
Boston, MA, U.S., and Seoul, Korea—February 1, 2012—PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, announced today that it has entered into an agreement with ASAN Medical Center (AMC), based in Seoul, Korea. The alliance offers clinical trial sponsors based regionally and internationally with access to high quality clinical trial services throughout Asia, with a focus on early phase development.
“Through our collaboration with ASAN Medical Center we look forward to helping our clients take advantage of opportunities to support their Korea-based development and commercialization programs to benefit patients in Korea, throughout Asia, and around the world,” said Mark A. Goldberg, M.D., Chief Operating Officer, PAREXEL International.
According to Dr. Goldberg, “PAREXEL provides clients with patient access in key therapeutic areas for early phase development through our early phase units and global alliance network. Our relationship with the ASAN Medical Center affords us the opportunity to further extend this capability into Asia. With ASAN Medical Center’s leadership in clinical trials, in-depth expertise, state-of-the art facilities, and a renowned network of hospitals, we believe our alliance will offer unique advantages to the Korean biopharmaceutical industry. We look forward to contributing to continued drug development growth in the region through shared learnings, technologies, and best practices.”
“ASAN Medical Center is pleased to work with PAREXEL to help advance our research activities and develop meaningful innovations that contribute to health and longevity of patients in Korea and throughout Asia,” said Seong-Wook Park, M.D. Ph.D, President and CEO, ASAN Medical Center. “We look forward to collaborating with PAREXEL through our Department of Clinical Pharmacology and Therapeutics to promote, facilitate, and enhance the development and use of novel pharmacotherapeutics.”
The AMC Clinical Trial Center, which opened in 2002, is a leading center in Korea that supports clinical trials conducted by ASAN Medical Center. It was designated as the Regional Clinical Trial Center by the Korean Ministry for Health, Welfare, and Family Affairs in 2006. The government’s investment made it possible for the center to rapidly build infrastructure. The center provides high quality clinical trial services, and assures quality through its Quality Assurance Unit, sponsor audits, and inspections by regulatory authorities. The center incorporates the well-established Department of Clinical Pharmacology and Therapeutics.
PAREXEL is one of Asia’s leading providers of biopharmaceutical services. The Company has had a presence in the Asia/Pacific region for over 16 years. PAREXEL has more than 2,800 employees and 21 offices throughout important industry centers in the region, including locations in Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Taiwan, and Thailand. PAREXEL experts support biopharmaceutical companies in accessing diverse patient populations, navigating regulatory issues, identifying investigators, and ensuring data quality throughout the Asia/Pacific region.
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About ASAN Medical Center
The ASAN Medical Center is a patient-centered medical complex and large, premier clinical-research centered hospital. The Ministry of Health and Welfare designated ASAN Medical Center as an innovative cancer research-centered hospital. The Clinical Research Center for Ischemic Diseases and the Clinical Research Center for Chronic Respiratory Obstruction Diseases were chosen to host research programs in the Korean Standard Medical Treatment Guidelines Development Project, organized by the Ministry of Health and Welfare. The centers are now performing leading roles in international clinical studies. ASAN Medical Center was also designated as the Clinical Center in the Seoul Area based on its continuous investment in clinical tests and research. For more information about ASAN Medical Center visit http://eng.amc.seoul.kr/lang.
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 11,300 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 additional restructuring charges of approximately $2.0 million in the third quarter 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 September 30, 2011 as filed with the SEC on November 9, 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.