PAREXEL International Corporation (NASDAQ:PRXL) has announced that it has expanded its minority interest ownership in the clinical pharmacology business of Synchron Research in Ahmedabad, India. The company also announced the sale of a bioanalytical laboratory in Poitiers, France to a subsidiary of Synchron, SYNEXEL Research International.
Under the terms of the new agreement, PAREXEL's ownership interest in the Ahmedabad Phase I business has increased from 19.5% to 31.0% on a fully diluted basis, at a cost of approximately $5.0 million dollars. In a separate transaction, PAREXEL sold the Poitiers business to Synchron's SYNEXEL Research International for approximately $6.7 ...