PAREXEL Launches New Regulatory Outsourcing Service Line
Company broadens portfolio of regulatory information management solutions to enhance client value
Boston, MA, February 19, 2014 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced the launch of a new service line designed to provide a focused, market-driven approach to regulatory outsourcing services in the life sciences industry, with a primary emphasis on post-approval regulatory activities.
Through PAREXEL Regulatory Outsourcing Services, the Company will customize these services for clients based upon their unique needs and business challenges by combining expertise, operational approaches and technology. The service line will reside within the PAREXEL Consulting business segment.
“With the ever-changing regulatory environment, pharmaceutical companies face new challenges that need to be addressed with efficiency and cost in mind,” said Mark A. Goldberg, M.D., President and Chief Operating Officer, PAREXEL. “PAREXEL is uniquely positioned to provide this new service offering, given our regulatory expertise, global operational capabilities and information management technology. Clients will now be able to outsource significant portions of their regulatory activities to a trusted partner in a cost-effective manner.”
“Regulatory outsourcing is growing increasingly important in the market as more and more companies rely on outsourcing to help them with the complex task of managing their regulatory needs, especially the regulatory maintenance of their marketed products,” said Rick Riegel, Corporate Vice President and new head of the PAREXEL Regulatory Outsourcing Services line. “This service offering provides a unique solution that addresses new pressures felt by our clients, allowing them to become more efficient in the area of regulatory operations and affairs.”
The launch of PAREXEL Regulatory Outsourcing Services broadens PAREXEL’s portfolio of regulatory information management solutions. In 2012, PAREXEL’s acquisition of LIQUENT, Inc. strengthened its regulatory capabilities by adding a robust information technology platform, LIQUENT InSight®.
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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, consulting, medical communications, and technology solutions and 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. PAREXEL Informatics, Inc., a subsidiary of PAREXEL, provides advanced technology solutions to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 76 locations in 50 countries around the world, and has 15,100 employees. For more information about PAREXEL International, visit www.PAREXEL.com.
PAREXEL, PAREXEL Informatics, LIQUENT, and HERON are registered trademarks of PAREXEL International Corporation or its affiliates.
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; 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 including the recent acquisitions of LIQUENT, Inc. and HERON, Inc., 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 December 31, 2013 as filed with the SEC on January 31, 2014, 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.