PAREXEL and Eli Lilly enter strategic functional service provider relationship

PAREXEL International Corporation (Nasdaq: PRXL), a leading global biopharmaceutical services provider, today announced the establishment of a strategic functional service provider relationship with Eli Lilly and Company, a global pharmaceutical company, to support study start-up and site monitoring of clinical trials throughout the Asia/Pacific region. PAREXEL will assist Lilly in bringing greater efficiencies to its clinical research studies to help meet Lilly's development and commercialization goals.

Through the agreement, Lilly will access PAREXEL's talent and experience in Asia and Australia for study start-up and site monitoring. The collaboration will allow Lilly to focus on its relationships with investigators and regulators and increase its flexibility, productivity and efficiency. The strategic partnership with PAREXEL enables Lilly to more effectively allocate studies and apply necessary resources to meet patient and portfolio needs.

"We are constantly evaluating how we can increase our flexibility and focus internal efforts on our core capabilities," said Jeff Kasher, Ph.D., Vice President of Global Clinical Development, Eli Lilly and Company. "This strategic agreement enables us to leverage PAREXEL's expertise in clinical trial monitoring and site start-up services throughout the Asia/Pacific region, which will increase our ability to speed innovative medicines to patients."

"Our strategic partnership with PAREXEL helps us focus on developing and maintaining relationships with investigators and regulators as core capabilities, while increasing our flexibility for managing monitoring resources to meet portfolio needs," said Yukihito Kuwagaki, Senior Director of Clinical Development and Medical Science, Lilly Research Laboratories, Japan.

"PAREXEL looks forward to a collaborative relationship with Lilly to strategically provide the dedicated expertise and capabilities it needs within the Asia/Pacific region," said Josef von Rickenbach, Chairman and Chief Executive Officer, PAREXEL International. "The Asia/Pacific region is comprised of some of the world's fastest growing pharmaceutical markets. PAREXEL has developed extensive local expert resources and capabilities as well as in-depth knowledge for conducting high quality trials in the Asia/Pacific region. We are pleased to have been selected as a strategic partner by Lilly to help them accelerate development."

As an innovator in defining strategic partnerships in the biopharmaceutical industry for over a decade, PAREXEL uses a spectrum of relationship models, including functional service provider relationships, to meet the diverse requirements of customers. PAREXEL's approach to strategic partnering focuses on assisting biopharmaceutical companies in reducing fixed costs, shortening development times, and speeding delivery of safe and effective treatments to market. PAREXEL has transformed its business to deliver a new level of strategic partnering, based on program design expertise, operational excellence, and project leadership to help clients achieve their development goals. PAREXEL provides a unique combination of clinical development expertise, integrated technologies, and global access to provide results for ever more complex development programs.