-- More than half of biopharmaceutical companies surveyed use a
Strategic Partnership model
BOSTON, March 31, 2014 /PRNewswire/ -- PAREXEL
International (NASDAQ: PRXL), a leading global biopharmaceutical
services organization, today released Strategic Partnerships
2014: Driving Biopharmaceutical Outsourcing Effectiveness, at
the 23rd Annual Partnerships in Clinical Trials Conference in
Las Vegas, NV. It provides
compelling insights that highlight the value of these multi-year,
highly integrated engagements between sponsors and clinical
research organizations (CROs).
In particular, the report reveals that:
- The Strategic Partnership model is perceived as the most
effective biopharmaceutical outsourcing approach in meeting key
sponsor needs: The model is considered particularly effective
in enabling greater cost predictability, strategic management of
the R&D portfolio and management of capacity gaps.
- Among companies surveyed, more than half now use a Strategic
Partnership model: 54 percent of North American
biopharmaceutical companies engage in Strategic Partnerships, while
50 percent in Europe and 53
percent in Asia now use this
approach.
- Positive perceptions of outsourcing effectiveness
within the biopharmaceutical industry have increased significantly
in the last three years: This increase has occurred across all
geographies and with sponsors of all sizes.
"As biopharmaceutical companies strive to increase efficiencies,
drive greater flexibility, extend expertise, reduce costs and
leverage limited resources, our research confirms they are turning
to outsourcing services, particularly Strategic Partnerships, in
greater numbers," said Mark A.
Goldberg, M.D., President and Chief Operating Officer,
PAREXEL. "As a pioneer of this model, PAREXEL continues to invest
in its development. In our experience, the value of this model can
include accelerated cycle times and the creation of cost
efficiencies."
The report marks PAREXEL's second annual analysis of the
biopharmaceutical industry outsourcing environment. A 2013
study[1] from the Company revealed 85 percent of
biopharmaceutical executives surveyed believe Strategic
Partnerships have positively impacted CRO-sponsorship
relationships.
"In recent years, Strategic Partnerships have helped increase
collaboration levels and enhance alignment between Sponsors and
CROs," said Carol Collins, Corporate
Vice President and Head of Strategic Partnerships at PAREXEL. "Our
report identifies ways to extend this collaboration through
continuous study optimization, shared knowledge and greater
integration."
Visit www.parexel.com to download Strategic Partnerships
2014: Driving Biopharmaceutical Outsourcing Effectiveness.
[1] Strategic Partnerships 2013: Transforming and
Unlocking Value in Biopharmaceutical Development
About Strategic Partnerships 2014: Driving
Biopharmaceutical Outsourcing Effectiveness
For this
report, independent research firm Blue Pyramid Consulting, a
subsidiary of The Avoca Group, conducted an online survey of 148
senior-level executives representing a diverse range of large,
mid-sized and small biopharmaceutical companies. It included both
quantitative and qualitative questions to better understand the
current state of clinical development outsourcing and Strategic
Partnerships. The survey also included single- and
multiple-response questions.
About PAREXEL International
PAREXEL International
Corporation is a leading global biopharmaceutical services
organization, providing a broad range of knowledge-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., a subsidiary of PAREXEL, provides advanced
technology solutions, including medical imaging, to facilitate the
clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 76
locations in 50 countries around the world, and has 15,100
employees. For more information about PAREXEL International visit
www.PAREXEL.com.
PAREXEL and "Your Journey. Our Mission." are trademarks or
registered trademarks of PAREXEL International Corporation or its
affiliates.
This release contains "forward-looking" statements regarding
future results and events, including, without limitation,
statements regarding expected financial results, future growth and
customer demand. 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 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 and anticipated 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 recent acquisitions of LIQUENT,
Inc. and HERON, Inc., 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 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 fiscal quarter ended December 31, 2013 as filed with the SEC on
January 31, 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.