The scale of QSI, with its 900 employees, all of which will be retained, may bring immediate benefits to Parexel clients, Mark Goldberg, President & COO of Parexel, said.
“First of all, this is an up and running company with significant scale. They already serve some of the world’s largest pharmaceutical companies. They are extremely effective and efficient in the way they run their operation,” Goldberg said.
Goldberg added that he thinks Parexel can now deliver pharmacovigilance services “far more efficiently than any one company could do on their own.”
“Pharmacovigilance plays a very important role during the drug development process itself but then once products are in the marketplace, pharmacovigilance is critical in order to ensure that the products are safe and that that safety holds up as larger and larger populations are exposed to a particular innovative treatment in the marketplace,” he added. "While Parexel currently provides certain pharmacovigilance services, the QSI acquisition will considerably expand the company’s global capabilities. This greater scale will enable Parexel to provide broader levels of support to customers, ultimately allowing Parexel to provide a more comprehensive, efficient and economical solution to clients around the world."
Though the financial details of the deal were not disclosed, Parexel previously announced that it would pay for the company with existing cash and that the deal would not impact its FY 2015 guidance.