PAREXEL has entered into a definitive agreement to acquire ExecuPharm, Inc., a global functional service provider (FSP) serving the biopharma industry. Financial terms were not disclosed. The acquisition is expected to close in the next three weeks. 
 
Headquartered in King of Prussia, PA, ExecuPharm provides qualified professionals across functional areas, such as clinical monitoring or study management, along with associated operational activities including onboarding, training, line management, performance management and policy administration.
 
“Functional services represent an established and growing model within the biopharmaceutical industry. Clients are increasingly using a combination of programmatic and functional outsourcing models,” said Josef von Rickenbach, chairman and chief executive officer, PAREXEL.  “With ExecuPharm, PAREXEL will expand and strengthen our existing functional services offering and capabilities to meet the growing market demand while allowing our clients to fulfill all of their clinical development outsourcing needs through a single company.”
 
“We are excited to become a part of PAREXEL and offer our clients an expanded global presence, increased therapeutic expertise, broad product development knowledge, and high quality service.  By providing clients the ability to outsource only certain functions, we provide clients flexibility in their drug development programs,” added Maria Larson, founder and chief executive officer, ExecuPharm.