Parexel named pharmaceutical industry company of the year

Parexel has been named company of the year for the pharmaceutical industry at the Eighth Annual International Business Awards.

The all-encompassing business awards programme, which selects winners from multiple industries from a pool of more than 3,000 entries, chose Parexel as the winner of this prize based on the quality of service it offers to clients.

An independent panel of internationally-based judges praised the biopharmaceutical services provider for its best-practice strategic partnering models, which have helped clients such as Pfizer and GlaxoSmithKline to improve the efficiency of their clinical research.

In addition to this win, Parexel subsidiary Perceptive Informatics' DataLabs EDC offering was named best new product or service of the year in the software as a service category.

Josef von Rickenbach, chairman and chief executive officer of the company, said: "This award is a tribute to the expertise of our employees who provide innovative solutions to help our clients accomplish their product development goals."

This comes after Parexel reported a record financial performance in the business year ending on June 30th 2011.