The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Parexel International Corp. (NSDQ:PRXL) expanded its footprint in Asia, opening new offices in Chengdu and Guangzhou, China.
The Waltham, Mass.-based clinical research organization established the new locations to help grow its clinical development and regulatory consulting capabilities in the country and the Asia-Pacific region, according to a press release.
PAREXEL International Corp. (NSDQ:PRXL) posted third-quarter revenues of $344.4 million for the three months ended March 31, up 10.8 percent compared with $311.0 million during the same period last year.
Net income for the Waltham, Mass.-based clinical research organization during the quarter was $12.8 million, or 22 cents per diluted share, down 10.0 percent compared with $14.2 million, or 25 cents per diluted share, during Q3 2009.
Parexel International Corp. (NSDQ:PRXL) opened up a new facility for early-phase studies in patients in South Africa, adding to its presence in that country and increasing its capacity worldwide.
The Waltham, Mass.-based contract research organization’s early-phase studies business provides a range of clinical testing studies for medical devices and drug compounds from first-in-man through proof-of-concept studies. Parexel has more than 580 beds in four countries in North America, the United Kingdom, Germany and South Africa. The new 40-bed facility in Port Elizabeth, South Africa, is the third facility in that country, according to a
Perceptive Informatics tapped a lymphoma expert from Georgetown University Hospital for its scientific advisory board.
The Boston-based Parexel International Corp. (NSDQ:PRXL) subsidiary, which makes software to manage medical imaging data for clinical trials, named Dr. Bruce Cheson to its medical imaging scientific advisor team. Cheson leads the hematology program at Georgetown’s Lombardi Comprehensive Cancer Center and is an expert on lymphoma treatment.
Restructuring costs cut deeply into second-quarter profits at Parexel International Corp. (NSDQ:PRXL) during the three months ended Dec. 31, with severance and related expenses costing the clinical research organization $14.3 million during the quarter.
The Waltham, Mass.-based clinical research organization recorded net income of $3.5 million, or 6 cents per share, on $284.7 million in revenues during its fiscal second period. That compares with a $5.2 million profit, or 9 cents per share, and $275.8 million in revenues during the year-ago quarter. In addition to severance payments, the bottom line was affected negatively by a client default, lease penalties associated with facility closings and a $6.1 investment impairment charge.
Contract research lab Parexel International Corp. (NASQ:PRXL) boosted its forecast for the three months ended Dec. 31, 2009, and for calendar 2010, reversing downbeat predictions made in October.
The Boston-based contract research organization is now saying it expects to report net earnings of between $3.5 million and $4.6 million on revenues of up to $285 million during the second quarter. It also issued its initial forecast for calendar 2010, predicting profits of between $35 million and about $40.5 million on between $1.115 billion and $1.145 billion in revenues for the 12-month period.
