PAREXEL International Corp. (PRXL, Financial) filed Annual Report for the period ended 2009-06-30.
Parexel International Corporation is one of the largest biopharmaceutical outsourcing organizations in the world providing a broad range of knowledge-based contract research medical marketing and consulting services to the worldwide pharmaceutical biotechnology and medical device industries. With a commitment to providing solutions that expedite time-to-market and peak market penetration PAREXEL has developed significant expertise in clinical trials management data management biostatistical analysis medical marketing clinical pharmacology regulatory and medical consulting industry training and publishing and other drug development consulting services. Its information technology subsidiary Perceptive Informatics Inc. develops and offers a portfolio of innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales. Parexel International Corp. has a market cap of $764.6 million; its shares were traded at around $13.29 with a P/E ratio of 16.3 and P/S ratio of 0.6. Parexel International Corp. had an annual average earning growth of 10.5% over the past 10 years. GuruFocus rated Parexel International Corp. the business predictability rank of 2-star.
Acquisitions have been, and may continue to be, an important component of PAREXELs growth strategy. In August 2008, we completed the acquisition of ClinPhone plc, a company incorporated in England and Wales that was traded on the London Stock Exchange (ClinPhone), for approximately $190 million, comprised of $172 million for the stock of ClinPhone and $18 million as repayment of ClinPhones existing debt. ClinPhones strong clinical technology offering was combined with our Perceptive Informatics business segment to provide an extensive line of products and services throughout the entire clinical development lifecycle. Biopharmaceutical companies have increasingly requested technology solutions and expertise to support the full range of clinical development activities while improving the speed and efficiency of clinical programs. We believe that the broad technological offering that we now provide gives clients a more comprehensive and robust suite of clinical information technologies.
Our CRS business segment provides clinical trials management and biostatistics, data management and clinical pharmacology, as well as related medical advisory and investigator site services. This segment generated revenue of $804.3 million, or 76.5%, of our consolidated service revenue in Fiscal Year 2009, $745.6 million, or 77.3%, of our consolidated service revenue in Fiscal Year 2008, and $548.8 million, or 74.0%, of our consolidated service revenue in Fiscal Year 2007.
Our PCMS segment provides technical expertise and advice in such areas as drug development, regulatory affairs, and GMP compliance. It also provides a full spectrum of market development, product development, and targeted communications services in support of product launch. Our PCMS consultants identify alternatives and propose solutions to address client issues associated with product development, registration, and commercialization. PCMS also provides RMA consulting services. Service revenue from the PCMS business segment represented $121.8 million, or 11.6%, of consolidated service revenue in Fiscal Year 2009, $129.8 million, or 13.5%, of consolidated service revenue in Fiscal Year 2008 and $120.6 million, or 16.2%, of consolidated service revenue in Fiscal Year 2007. We conduct our PCMS operations through four groups: (i) Integrated Product Development Consulting, (ii) Strategic Compliance Consulting, (iii) Medical Communications Services and (iv) Reimbursement & Market Access.
Our Perceptive segment provides information technology solutions designed to improve the product development processes of clients. Perceptives portfolio of products and services include medical imaging services, ClinPhone RTSM, CTMS, EDC, web-based portals, systems integration, and patient diary applications. Service revenue from the Perceptive business represented $124.7 million, or 11.9%, of consolidated service revenue in fiscal year 2009, $88.8 million, or 9.2%, of consolidated service revenue in fiscal year 2008 and $72.5 million, or 9.8%, of consolidated service revenue in fiscal year 2007.
Read the The complete ReportPRXL is in the portfolios of Edward Owens of Vanguard Health Care Fund.
Parexel International Corporation is one of the largest biopharmaceutical outsourcing organizations in the world providing a broad range of knowledge-based contract research medical marketing and consulting services to the worldwide pharmaceutical biotechnology and medical device industries. With a commitment to providing solutions that expedite time-to-market and peak market penetration PAREXEL has developed significant expertise in clinical trials management data management biostatistical analysis medical marketing clinical pharmacology regulatory and medical consulting industry training and publishing and other drug development consulting services. Its information technology subsidiary Perceptive Informatics Inc. develops and offers a portfolio of innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales. Parexel International Corp. has a market cap of $764.6 million; its shares were traded at around $13.29 with a P/E ratio of 16.3 and P/S ratio of 0.6. Parexel International Corp. had an annual average earning growth of 10.5% over the past 10 years. GuruFocus rated Parexel International Corp. the business predictability rank of 2-star.
Highlight of Business Operations:
The aggregate market value of common stock, $.01 par value per share, held by non-affiliates as of December 31, 2008 was approximately $548.7 million based on the closing price of the registrants Common Stock as reported on the Nasdaq Global Select Market on December 31, 2008, the last business day of the registrants most recently completed second fiscal quarter. The registrant has assumed that all holders of 10% or more of its Common Stock, if any, are affiliates solely for purposes of calculating the aggregate market value of Common Stock held by non-affiliates. As of August 21, 2009 there were 57,781,745 shares of common stock, $.01 par value per share, outstanding.Acquisitions have been, and may continue to be, an important component of PAREXELs growth strategy. In August 2008, we completed the acquisition of ClinPhone plc, a company incorporated in England and Wales that was traded on the London Stock Exchange (ClinPhone), for approximately $190 million, comprised of $172 million for the stock of ClinPhone and $18 million as repayment of ClinPhones existing debt. ClinPhones strong clinical technology offering was combined with our Perceptive Informatics business segment to provide an extensive line of products and services throughout the entire clinical development lifecycle. Biopharmaceutical companies have increasingly requested technology solutions and expertise to support the full range of clinical development activities while improving the speed and efficiency of clinical programs. We believe that the broad technological offering that we now provide gives clients a more comprehensive and robust suite of clinical information technologies.
Our CRS business segment provides clinical trials management and biostatistics, data management and clinical pharmacology, as well as related medical advisory and investigator site services. This segment generated revenue of $804.3 million, or 76.5%, of our consolidated service revenue in Fiscal Year 2009, $745.6 million, or 77.3%, of our consolidated service revenue in Fiscal Year 2008, and $548.8 million, or 74.0%, of our consolidated service revenue in Fiscal Year 2007.
Our PCMS segment provides technical expertise and advice in such areas as drug development, regulatory affairs, and GMP compliance. It also provides a full spectrum of market development, product development, and targeted communications services in support of product launch. Our PCMS consultants identify alternatives and propose solutions to address client issues associated with product development, registration, and commercialization. PCMS also provides RMA consulting services. Service revenue from the PCMS business segment represented $121.8 million, or 11.6%, of consolidated service revenue in Fiscal Year 2009, $129.8 million, or 13.5%, of consolidated service revenue in Fiscal Year 2008 and $120.6 million, or 16.2%, of consolidated service revenue in Fiscal Year 2007. We conduct our PCMS operations through four groups: (i) Integrated Product Development Consulting, (ii) Strategic Compliance Consulting, (iii) Medical Communications Services and (iv) Reimbursement & Market Access.
Our Perceptive segment provides information technology solutions designed to improve the product development processes of clients. Perceptives portfolio of products and services include medical imaging services, ClinPhone RTSM, CTMS, EDC, web-based portals, systems integration, and patient diary applications. Service revenue from the Perceptive business represented $124.7 million, or 11.9%, of consolidated service revenue in fiscal year 2009, $88.8 million, or 9.2%, of consolidated service revenue in fiscal year 2008 and $72.5 million, or 9.8%, of consolidated service revenue in fiscal year 2007.
Read the The complete ReportPRXL is in the portfolios of Edward Owens of Vanguard Health Care Fund.
