BOSTON, Feb. 18, 2015 /PRNewswire/ -- PAREXEL
International Corporation (NASDAQ: PRXL), a leading global
biopharmaceutical services provider, today announced the continued
expansion of its clinical trial site alliance network, an extensive
network of investigator sites and Site Management
Organizations[1](SMOs) that enables PAREXEL to quickly access and
enroll patient populations for clients' clinical trials
worldwide.
Patient recruitment is one of the most significant clinical
trial challenges. Difficulties in patient enrollment delay 81
percent of clinical trials one to six months, with another five
percent postponed six months or more.[2]
To address this challenge, PAREXEL developed its Site Alliance
network, currently consisting of more than 180 members plus several
SMOs, together providing access to approximately 6,000
investigators worldwide. The SMOs alone have a combined database of
7.5 million patients in more than 25 countries. The network's size
and scope enable faster patient recruitment, evaluation and
enrollment in clinical trials; foster greater collaboration between
PAREXEL and sites on behalf of clients; and ensure quality across
multiple sites.
"Recruiting and enrolling patients is a fundamental and critical
need in clinical trials. Recruitment difficulties can translate
into lost revenue and significant delays in getting new, cutting
edge medicines to patients," said Mark A.
Goldberg, M.D., President and Chief Operating Officer,
PAREXEL. "Through our extensive Site Alliance network, PAREXEL has
the quality relationships and expertise to provide a solution to
this challenge and help our clients meet their clinical trial
recruiting and enrollment needs."
Recently, PAREXEL used one of its Site Alliance network
partners to recruit more than 8,250 people across 40
sites for a Phase III clinical trial. The team was able to
randomize the first patient within five weeks -- several
months ahead of schedule -- helping create a cost saving of
close to 40 percent.
"PAREXEL has developed a strategic and relationship-driven
approach to address one of the most critical challenges in the
clinical trials journey -- the patient enrollment process,"
said Paul Evans, Vice President and
Global Head, Feasibility and Enrollment Solutions, PAREXEL.
"Through our Site Alliance network, we're better able to help
pharmaceutical companies improve patient enrollment and accelerate
the pace of clinical trials -- making it possible to reduce
time to market."
About PAREXEL International
PAREXEL International
Corporation is a leading global biopharmaceutical services
organization, providing a broad range of expertise-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. provides advanced technology solutions, including
medical imaging, to facilitate the clinical development process.
Headquartered near Boston, Massachusetts, PAREXEL operates in 81
locations in 51 countries around the world, and has approximately
16,530 employees. 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.
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 materially 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 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 acquisition of ClinIntel Limited, 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 foreign currency 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 September 30,
2014 as filed with the Securities and Exchange Commission
on November 3, 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.
Contacts:
Diana Martin, PAREXEL
International
Tel: +1
781-434-5516
Email:
Diana.Martin@PAREXEL.com
Cristi Barnett, PAREXEL
International
Tel.: +1 781-434-4019
Email: Cristi.Barnett@PAREXEL.com
Matthew Briggs, PAN
Communications
Tel: +1 617-502-4300
Email:
PAREXEL@pancomm.com
[1] Site Management Organizations are organizations that provide
clinical trial-related services to pharmaceutical companies and
CROs. SMOs often manage multiple sites, offering access to more
patients and locations for CROs and pharmaceutical companies.
[2] Thomson CenterWatch Survey, "State of Clinical Trials
Research," 2004.
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SOURCE PAREXEL International Corporation