PAREXEL Acquires Clinical Pharmacology Units 3ClinicalResearch AG; $12 Million

BOSTON, April 22 /PRNewswire-FirstCall/ -- PAREXEL International Corporation announced today the acquisition of 3ClinicalResearch AG ("3C"), a clinical research organization with deep expertise in Phase I and Phase IIa Proof-Of-Concept studies. The privately held company based in Berlin, Germany, has Phase I/IIa facilities at the renowned Charite University Hospital in Berlin and in Hennigsdorf, Germany that add a total of approximately 80 beds and two sleep research laboratories to PAREXEL's worldwide Clinical Pharmacology Network.

PAREXEL has been affiliated with 3C for several years, having established a minority ownership stake in the entity in June of 2000. The Company acquired the remaining outstanding shares of 3C through a cash purchase of approximately $12 million during March of 2004.

Josef H. von Rickenbach, PAREXEL's Chairman and Chief Executive Officer, stated, "The acquisition of 3C adds further capacity to our clinical pharmacology business and to our operations in Berlin. Furthermore, 3C's Proof-Of-Concept capabilities help to round out our portfolio of services. Our enhanced clinical pharmacology network will provide us with access to a broader volunteer and patient population, and enable us to more efficiently recruit and screen patients for client studies. Additionally, the extensive capabilities of 3C in conducting cardiovascular, central nervous system, and infectious disease studies further deepen PAREXEL's expertise in these key therapeutic categories."

PAREXEL is one of the largest biopharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that expedite time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. Its information technology subsidiary, Perceptive Informatics, Inc., develops and offers a portfolio of innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales. The technology portfolio includes web-based portal solutions and tracking tools, Interactive Voice Response Systems (IVRS), Clinical Trial Management Systems (CTMS), electronic diary and investigator database solutions. Perceptive also offers advanced medical diagnostics services to assess rapidly and objectively the safety and efficacy of new drugs, biologics, and medical devices in clinical trials. PAREXEL's integrated services, therapeutic area depth and sophisticated information technology, along with its experience in global drug development and product launch services, represent key competitive strengths. Headquartered near Boston, MA, PAREXEL operates in 52 locations throughout 36 countries around the world, and has 5,015 employees.

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 their respective owners and are hereby acknowledged.

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" and similar expressions are intended to identify forward-looking statements. These statements 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 restructurings; the loss, modification, or delay of contracts; the Company's dependence on certain industries and clients; the Company's ability to win new business, manage growth, 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; government regulation of the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry; 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 December 31, 2003 as filed with the SEC on February 10, 2004, which "Risk Factors" discussion is incorporated by reference in this press release. The forward-looking statements included in this press release represent the Company's estimates as of the date of this 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.

CONTACT: Jill Baker, Vice President of Investor Relations (781) 434-4118

PAREXEL International Corporation

CONTACT: Jill Baker, Vice President of Investor Relations of PAREXELInternational Corporation, +1-781) 434-4118

Back to news