28 Dec 2012, BioSpectrum Bureau , BioSpectrum
Singapore: Parexel International has acquired all of the outstanding equity securities of Liquent, a leading global provider of regulatory information management (RIM) solutions, for $72 million.
Liquent provides an integrated platform of software solutions for regulatory submissions and product registration management, as well as a range of complementary business process outsourcing capabilities.
Liquent was founded in 1994, and its clients include more than 200 biopharmaceutical and life sciences companies. With headquarters in Horsham, Pennsylvania, and additional offices in the United Kingdom, Germany and India, the company employs nearly 300 individuals.
Mr Josef von Rickenbach, chairman and CEO of Parexel, stated that, "The acquisition of Liquent further strengthens our regulatory capabilities by adding a robust information technology platform. Through Liquent's flagship software platform, InSight, our clients will have access to comprehensive regulatory agency submission planning, viewing, tracking, publishing, and registration management throughout the entire lifecycle of a medicinal entity.
"We are pleased to be able to provide this new offering and believe that it will enhance the portfolio of products and services that we provide through our Perceptive Informatics business. We expect the acquisition will also benefit the Parexel Consulting and Medical Communications Services business, where we will be able to leverage Liquent's significant expertise in regulatory information management outsourcing through its Liquent Direct solutions."