BOSTON--(BUSINESS WIRE)--PAREXEL International Corporation (Nasdaq: PRXL) today presents its strategy for growth and its expectations for Fiscal Years 2016 and 2017 performance to investors and analysts at an Investor Day in New York City.
Josef H. von Rickenbach, PAREXEL’s Chairman and Chief Executive Officer, provides an overview of Company performance, industry dynamics, and the Company’s strategy. Mr. von Rickenbach states that PAREXEL’s strategy is to enhance its leadership in the biopharmaceutical services industry by focusing on its core business and capturing new growth from adjacent markets. The Company reiterates its long-term financial goals, including:
10–12% annual revenue growth, consisting of 7–8% growth from ongoing operations and 3–4% growth from acquisitions
100–120 basis points of annual adjusted operating margin improvement, with the long-term goal of an adjusted operating margin range of 14–16%
15–20% annual adjusted diluted EPS growth
In discussing industry trends, Mr. von Rickenbach says, “Several paradigm shifts in the biopharmaceutical marketplace—changing biopharmaceutical pipelines, the increasing importance of payers, advances in information technology, and virtualization of biopharmaceutical companies—provide us with major new market opportunities. Our strategy extends our competencies into new markets, including market access and commercialization, that are large and growing faster than our traditional clinical business.”
Josef H. von Rickenbach, PAREXEL’s Chairman and Chief Executive Officer, provides an overview of Company performance, industry dynamics, and the Company’s strategy. Mr. von Rickenbach states that PAREXEL’s strategy is to enhance its leadership in the biopharmaceutical services industry by focusing on its core business and capturing new growth from adjacent markets. The Company reiterates its long-term financial goals, including:
10–12% annual revenue growth, consisting of 7–8% growth from ongoing operations and 3–4% growth from acquisitions
100–120 basis points of annual adjusted operating margin improvement, with the long-term goal of an adjusted operating margin range of 14–16%
15–20% annual adjusted diluted EPS growth
In discussing industry trends, Mr. von Rickenbach says, “Several paradigm shifts in the biopharmaceutical marketplace—changing biopharmaceutical pipelines, the increasing importance of payers, advances in information technology, and virtualization of biopharmaceutical companies—provide us with major new market opportunities. Our strategy extends our competencies into new markets, including market access and commercialization, that are large and growing faster than our traditional clinical business.”
