Parexel is leasing a North Carolina building from GlaxoSmithKline, part of a deal between the two in which the CRO will absorb some researchers on the way out as the drugmaker mounts a major restructuring.
NextDocs, a venture-backed document-management company, has signed a deal with Parexel to integrate its services with the CRO's growing eClinical platform.
Parexel International has cut the ribbon on a new clinical trial supply hub in Europe, centralizing the CRO's continental logistics services as part of a companywide effort to more efficiently conduct studies around the globe.
Parexel International is widening its presence in Nottingham, U.K., tapping local grant funds to consolidate some outposts with plans to grow around its latest acquisition.
Parexel International has bought up the U.K.'s ClinIntel, a supply chain software outfit that should fit right in with the CRO's growing technology business.
Like most CROs, Parexel International relies on Big Pharma for most of its service revenue. But the recent explosion in biotech IPOs and venture capital deals has put a lot of money in the hands of small drugmakers, and that's changing the approach for the industry's largest contractors, a company exec said.
Parexel International posted an 11.8% revenue increase in its just-concluded fiscal year, posting record sales and forecasting another banner year.
Parexel International is looking to broaden its presence in the Middle East and North Africa, snapping up Turkish CRO Atlas Medical Services.
Parexel figures it can rake in more than $2 billion in revenue in the next fiscal year, banking on a solid book-to-bill ratio and increasing global demand to deliver an all-time high.
Parexel International has reformatted its clinical trial management software, streamlining its services with an update the company believes can help its clients start studies faster.