Company Watch

Parexel International expands relationship with Synchron

Our News Bureau - Mumbai

Parexel International Corporation announced that it had entered into a joint venture arrangement with Synchron Research Services. It has purchased a majority stake in a newly formed entity called Parexel International Synchron Private Limited into which Synchron transferred its clinical trial business operations located in Bangalore, India. Parexel also acquired a minority equity interest in the clinical pharmacology business of Synchron Research in Ahmedabad, India. The terms of the deal were not disclosed.

In 2004, Parexel entered into an exclusive strategic collaboration with Synchron, a privately held, leading contract research organisation. Synchron provides a broad range of Phase I-IV clinical research services, including quality assurance, statistical analysis and data management capabilities, in compliance with GCP, GLP and ICH guidelines and regulations.

"As demand continues to increase for clinical research services in India, we are strengthening our commitment to provide a more robust level of service to our clients by expanding our successful collaboration with Synchron," said Josef H von Rickenbach, Chairman and Chief Executive Officer of Parexel. "We are dedicated to providing the same quality standards in India that our clients expect from any of Parexel's global operations, and to further building on the extensive services offered by our alliance."

"Parexel has not only demonstrated a long-term commitment to clinical development in India, but also the ability to provide global reach to biopharmaceutical and medical device companies worldwide," said Dr Shivprakash Rathnam, PhD, Chairman and Managing Director of Synchron Research. "Our clients will continue to benefit from Parexel's deep expertise across the continuum of development and commercialisation, as well as from our combined offerings, which cover the entire range of clinical research services and therapeutic areas for Phase I to Phase IV studies."