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BOSTON, July 24, 2012 -- PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced the launch of the PAREXEL BioPharm Unit -- a dedicated unit within PAREXEL focused solely on the unique needs of small and mid-sized biopharmaceutical companies to help them achieve their development goals.
Recent data indicates that small and mid-sized companies are the engine of the biopharmaceutical industry, with 81 percent of ongoing development programs originating from sponsors outside of the top 25 biopharmaceutical companies. The PAREXEL BioPharm Unit seeks to support this critical pipeline by providing the precise expertise, global infrastructure, operational excellence and turn-key technologies needed to help small biopharmaceutical companies advance their drugs through the development cycle. Through vast experience and deep understanding of the needs of small and emerging biopharmaceutical companies, PAREXEL designed this new delivery model to provide a high level of attention and service. The goal is to provide a tailored solution that results in accelerated development timelines, reduced cost and a high level of quality.
"Small and mid-sized biopharmaceutical companies are truly the genesis of innovation and have been an important part of PAREXEL's client base for more than 30 years," said Ubavka DeNoble, Vice President of BioPharm Services. "The creation of the PAREXEL BioPharm Unit is especially important for small pharma and biotech sponsors that have needs that are meaningfully different from large pharma sponsors. The breadth and depth of our expertise gives us the ability to create customized solutions that are designed to meet the particular needs of each client -- whether the company is a small research venture, a growing mid-sized business, or a global enterprise."
The PAREXEL BioPharm Unit provides a senior management leader and dedicated team offering ongoing, frequent communication and proactive solutions. Under the dedicated team model, PAREXEL's BioPharm Unit provides companies the opportunity to accelerate patient recruitment, increase the speed of study start-up, shorten time to database lock, and improve overall efficiency for meeting critical development milestones.