BOSTON, April 24, 2013 /PRNewswire/ -- PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced it has been named a recipient of the 2013 "Partnership Pioneers of the Year" award in recognition of its innovative strategic partnership with Pfizer and ICON. Given by the advisory board of the Institute for International Research and Partnerships in Clinical Trials, the award recognizes two or more companies engaged in a partnership that moves beyond the traditional transactional model to further drug development.
"PAREXEL is honored to receive the 'Partnership Pioneers of the Year' award in recognition of our successful collaboration with Pfizer, which has ushered in an innovative approach to clinical trial execution," said Josef von Rickenbach, Chairman and CEO of PAREXEL. "We are proud of our ability to utilize PAREXEL's global resources and worldwide technology infrastructure to implement high-quality clinical trials with greater efficiency. We will continue to apply lessons learned from this relationship model to drive value creation and improve outcomes-focused partnerships across our entire portfolio."
PAREXEL announced a five-year strategic partnership model with Pfizer in May 2011. The goal of the strategic partnership model is to increase the speed and efficiency of clinical development programs, while ensuring that quality, innovation and global reach are central to improving predictability of clinical trials.
"Our new Alliance Partner Model is providing a solid foundation for integrated quality clinical services," said Dr. John Hubbard, SVP of Development Operations for Pfizer. "ICON and PAREXEL's clinical expertise and innovative technology continue to set the standard for best practices in their field. This award recognizes progress toward our goal of creating a common culture dedicated to improving clinical trial implementation. We look forward to deepening our relationship with ICON and PAREXEL, to achieve our partnership's full potential, and ultimately deliver medicines to patients in need more quickly and efficiently."
The Partnership Pioneers of the Year award comes on the heels of a new PAREXEL research report titled, Strategic Partnerships 2013, which was issued earlier this week. The report explores the current outsourcing landscape and examines the value that strategic partnerships provide to biopharmaceutical companies of all sizes.
Pfizer, ICON and PAREXEL accepted the honor during an award ceremony at the 22nd annual Partnerships in Clinical Trials conference.
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 73 locations throughout 51 countries around the world, and has approximately 14,000 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 December 31, 2012 as filed with the SEC on February 4, 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. Perceptive Informatics is a registered trademark and Perceptive MyTrials 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.
Diana Martin, Vice President, Corporate Communications
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SOURCE PAREXEL International Corporation