PAREXEL International Announces Master Services Agreement With Pfizer

BOSTON--(BUSINESS WIRE)--PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced that it has signed a services agreement with Pfizer Inc. Under the terms of this agreement, PAREXEL will continue to provide global clinical research and development services to Pfizer in support of clinical development programs across its portfolio. Terms of the agreement were not disclosed.

“PAREXEL will continue to leverage its proven clinical processes and expertise to help Pfizer conduct clinical trials and accomplish its drug development goals”

“PAREXEL will continue to leverage its proven clinical processes and expertise to help Pfizer conduct clinical trials and accomplish its drug development goals,” said Josef von Rickenbach, Chairman and Chief Executive Officer, PAREXEL International. “Our team is focused on applying dynamic and innovative operational models to help Pfizer develop drugs to improve health and treat diseases for patients around the world.”

As an innovator in creating strategic partnerships in the biopharmaceutical services industry, PAREXEL uses a spectrum of relationship models to meet the diverse requirements of clients. This includes large companies as well as emerging companies through its BioPharm unit. PAREXEL’s approach focuses on assisting biopharmaceutical companies in reducing fixed costs, shortening development times, and speeding delivery of safe and effective treatments to market. PAREXEL has transformed its business to deliver a new level of strategic services based on program design expertise, operational excellence, and project leadership to help clients achieve their development goals.

About PAREXEL International
PAREXEL International Corporation is a leading global biopharmaceutical services company, providing a broad range of expertise-based clinical 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, and reimbursement. PAREXEL Informatics provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL has offices in 82 locations in 51 countries around the world, and had approximately 18,450 employees in the third quarter. For more information about PAREXEL International, visit www.PAREXEL.com.

PAREXEL and PAREXEL Informatics are trademarks or registered trademarks of PAREXEL International Corporation or its affiliates. All other trademarks are the property of their respective owners.

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. Such factors and others are discussed in the section entitled “Risk Factors” of the Company’s most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, 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.