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Home Industry News Parexel reports growth in second quarter

Parexel reports growth in second quarter

1st February 2011

Parexel has expressed confidence in its future growth prospects after publishing encouraging data in its second quarter fiscal report.

The research organisation achieved a consolidated service revenue total of $304.4 million (189.13 million pounds) during the three months ending on December 31st 2010, up by 6.9 percent year-on-year.

At the end of the quarter, the firm's backlog totalled $3 billion, an increase of 30.9 percent compared to the same period of 2009, with $496.0 million of this being comprised of gross new business wins.

Among the new contracts awarded in recent months was a new brief from Merck Sharp and Dohme that will see the firm assist in biosimilar research.

Josef von Rickenbach, Parexel's chairman and chief executive officer, stated that these results are in line with its expectations.

He added: "I believe that we have the foundation in place to achieve long-term revenue and earnings growth and that we will continue to create and deliver value to clients and shareholders."ADNFCR-8000103-ID-800378845-ADNFCR

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