Leading provider of biopharmaceutical services,
Parexel International Corporation
) recently announced the launch of its Parexel BioPharm Unit.
Parexel BioPharm will be dedicated to the unique requirements of
small as well as medium-sized biopharmaceutical firms in order to
provide support to companies towards achieving their development
According to the company, BioPharm Unit's new delivery model is
designed to provide high level of attention and improved services
to clients. The model integrates Parexel's industry experience,
expertise and a deep understanding of the needs of small and
emerging biopharmaceutical enterprises. It aims to offer customized
solutions to accelerate drug development procedures with savings on
time and costs and without having to compromise on quality.
Per the management, small and mid-sized biopharmaceutical
companies have been an important part of Parexel's customer base
for the last 30 years. The company asserts that there is a
significant difference between the research and development needs
of large pharma sponsors and the small and mid-sized sponsors. The
BioPharm Unit will specifically cater to the needs of smaller
pharma and biotech sponsors.
Parexel affirms its functions in development of the majority of
top selling biopharmaceuticals in the market. The company also has
an enlarged international client base. The small and emerging
biopharmaceutical concerns will benefit from its proven track
record - an ability to come up with efficient and high quality
solutions in a reduced time span.
Statistics indicate that 81% of current development programs in
the biopharmaceutical industry are initiated by sponsors outside
the top 25 biopharmaceutical companies. This implies that small and
mid-sized companies are the growth catalysts of the
The BioPharm Unit will support the advancement of these
companies by offering expertise, operational excellence, global
infrastructure and technological set-up. This will enhance the drug
development cycle as well as the pipeline of the firms
concerned. Management believes that the company's technical knowhow
and research expertise will allow it to actualize custom-made
solutions to meet the requirement of each customer.
Parexel is a leading biopharmaceutical services company. It
provides clinical research, consultation, commercialization as well
as technology products to various industries such as
pharmaceutical, biotechnology and medical devices. Based in
Waltham, Massachusetts, the company operates in three major
segments - clinical research services, Parexel consulting and
medical communications services and perceptive informatics. It
) among others.
Parexel currently retains a Zacks #3 Rank, which translates into
a short-term Hold rating.
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