PAREXEL EXPANDS RELATIONSHIP WITH SYNCHRON IN INDIA.PAREXEL International Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PRXL) has announced that it has expanded its minority interest ownership in the clinical pharmacology Clinical pharmacology is the science of drugs and their clinical use. It is underpinned by the basic science of pharmacology, with added focus on the application of pharmacological principles and methods in the real world. business of Synchron Research in Ahmedabad, India. The company also announced the sale of a bioanalytical laboratory bioanalytical laboratory Lab medicine A place, establishment, or institution organized and operated primarily for performing chemical, microscopic, serologic, parasitologic, bacteriologic, or other tests, by the practical application of one or more of the in Poitiers, France to a subsidiary of Synchron, SYNEXEL Research International. Under the terms of the new agreement, PAREXEL's ownership interest in the Ahmedabad Phase I business has increased from 19.5% to 31.0% on a fully diluted basis, at a cost of approximately $5.0 million dollars. In a separate transaction, PAREXEL sold the Poitiers business to Synchron's SYNEXEL Research International for approximately $6.7 million dollars. Staff of the bioanalytical lab in Poitiers, France will join Synchron's bioanalytical business unit. "Over the past several years, PAREXEL has developed a strong global clinical pharmacology capability, through both organic growth and acquisitions. As a result, we are an industry leader in expertise-based Phase I studies," said Josef H. von Rickenbach, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , PAREXEL International. "PAREXEL's increased investment in Synchron's clinical pharmacology business demonstrates our commitment to helping clients select the most promising compounds earlier by providing complex, multi-site Phase I and Proof of Concept studies. We have a long-term commitment to conducting high quality clinical studies in India, and continue to strengthen our presence, both in India and globally, to help clients bring important new biopharmaceutical products to market." In 2004, PAREXEL entered into an exclusive strategic collaboration with Synchron, a privately-held contract research organization in India. In 2006, PAREXEL expanded its relationship with Synchron by acquiring a majority stake of Synchron's clinical trials business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets in Bangalore, India, and a minority equity interest in Synchron's Ahmedabad, India clinical pharmacology business. In 2007, PAREXEL opened an office in Hyderabad, India to offer clients a wide range of clinical research and data management services. PAREXEL has clinical pharmacology units in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , United Kingdom, Europe, and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . The units provide bioanalytical services, data management, biostatistics biostatistics /bio·sta·tis·tics/ (-stah-tis´tiks) biometry. bi·o·sta·tis·tics n. The science of statistics applied to the analysis of biological or medical data. , medical writing, and pharmacokinetic services for early phase clinical studies. PAREXEL's clinical pharmacology experts have a broad range of therapeutic experience, including central nervous system, cardiovascular, respiratory, metabolism/endocrine, and oncology. About the Company PAREXEL International Corporation is a leading global bio/pharmaceutical services organization, providing a broad range of knowledge-based contract research, medical communications and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak- market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" , 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. Perceptive Informatics, Inc., a subsidiary of PAREXEL, provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts “Boston” redirects here. For other uses, see Boston (disambiguation). Boston is the capital and most populous city of Massachusetts.[3] The largest city in New England, Boston is considered the unofficial economic and cultural center of the entire New , PAREXEL operates in 64 locations throughout 51 countries around the world, and has over 7,320 employees. For more information, visit http://www.parexel.com or call 781/434-4118. |
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