Parexel reports record results for 2010 full year

Parexel has published its financial report for the 12 months ending June 30th 2010, announcing record full-year and fourth quarter results.

The pharmaceutical services organisation posted net new business wins worth $645 million (409.6 million pounds) in the final three months of the fiscal year, while its backlog at the end of the 12 months came to $2.7 billion, up 23 per cent year-on-year.

Josef von Rickenbach, chairman and chief executive officer of Parexel, attributed this growth in part to the increased desire of clients to focus their outsourcing activities with fewer providers.

He also expressed confidence that the company will continue to capitalise on market trends moving into the new financial year.

“We will remain keenly focused on quality with regard to executing the work that we have won,” added Mr von Rickenbach.

Earlier this year, Parexel bolstered its consulting business unit with the appointment of Dr Keith Watson, formerly of the Medicines and Healthcare Products Regulatory Agency.