Parexel was founded in 1982 by Josef von Rickenbach and organic chemist Anne Sayigh in 1982 to provide regulatory consulting services. Over the next 30-plus years, Parexel has grown through more than 35 mergers and acquisitions, an IPO and subsequent public offerings to become one of the top 3 public CROs. Parexel has more than 15,000 employees working in 81 locations in 51 countries conducting clinical trials across more than 100 countries. They provide a wide range of end-to-end product development services to the pharmaceutical, biotechnology and medical devices industries. The company is divided into 3 primary segments Clinical Research Services (focuses on clinical trial management), Parexel Consulting Services (focuses on consultative offerings in product development & commercialization) and Perceptive Informatics (focuses on IT services consulting). The bulk of revenue is generated from Clinical Research Services.
Parexel has the scalability and scope of services to handle even the largest pharmaceutical clients as evidenced by the 2011 establishment of a strategic relationship with Pfizer. This partnership is unique in the level of risk-sharing and autonomy ceded by Pfizer to Parexel (and ICON) . Parexel also has significant experience with emerging and mid-size Pharma. Our panel viewed Parexel as.................................
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