PAREXEL Opens Shenyang Office to Support Business Growth in Asia
Boston, MA, U.S., May 16, 2013 -- PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced that the Company has opened a new office in Shenyang, China. This location will support growing client demand for a broad range of clinical development capabilities in the country and throughout the Asia Pacific region. The office further expands PAREXEL’s presence in China which includes locations in Beijing, Chengdu, Guangzhou, Shanghai and Hong Kong. PAREXEL now has 22 offices throughout important biopharmaceutical centers in the Asia Pacific region, which in addition to China, includes a presence in Australia, Japan, India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
“Given the globalization of clinical trials today and the continuing shift of drug development activity from West to East, China has become an important strategic destination for PAREXEL’s clients and business,” said Mark Goldberg, PAREXEL’s President and COO. “With the opening of the Shenyang operation hub in China, PAREXEL commits to continuing to expand its service scope and local expertise. The office also further reinforces our social investment in the region through a collaboration with Shenyang Pharmaceutical University to train graduates on clinical trial conduct, data management and pharmacovigilance knowledge.”
The Shenyang office will also enable the Company to bring Perceptive eClinical technology solutions to the Asia Pacific market. Built on the leading-edge PAREXEL MyTrials™ platform and combined with PAREXEL’s extensive medical and clinical expertise, clinical trial sponsors are able to more efficiently manage the clinical development process from study design to data collection and ultimately, to regulatory submission.
As part of the initiative, PAREXEL Academy will offer graduates and alumni of Shenyang Pharmaceutical University’s School of Life Science and Biopharmaceuticals opportunities to work alongside PAREXEL staff who are involved in regional and global clinical studies. This offering is in addition to the abundant full-time PAREXEL career opportunities already available to the same graduates and alumni.
“We are pleased to have the opportunity to collaborate with PAREXEL, one of the CRO industry leaders,” said Professor Jing-Yu Yang, Dean of Shenyang Pharmaceutical University. “The collaboration will not only provide our Clinical Pharmacy students with the opportunity to learn about new drug development, but it will also create a foundation for research and cultivation of the next generation of talent.”
A ceremony to mark the official opening of PAREXEL’s Shenyang operations will take place on Thursday, May 16.
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 78 locations throughout 52 countries around the world, and has approximately 14,400 employees. For more information about PAREXEL International visit www.PAREXEL.com.
This release contains "forward-looking" statements regarding future results and events. 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; 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 fiscal quarter ended March 31, 2013 as filed with the SEC on May 6, 2013, 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.