PRA International HQ Moving To Raleigh

Sep 25, 2007

PRA International, one of the world's leading clinical development organizations, announced today that they will move corporate headquarters from Reston, Va., to Raleigh, N.C. The company will create 494 jobs in Wake, Mecklenburg and New Hanover counties, with the majority of these positions being in Wake County.

"PRA International's investment in Raleigh confirms our efforts to recruit both advanced medical care companies and headquarters to our city," Mayor Charles Meeker said. "This is exactly the type of world-class company we want to attract. PRA International promises to be a strong corporate citizen and a wonderful employer for the citizens of Raleigh and Wake County."

While wages for the new jobs will vary by job function and responsibility, the expected average annual salary for the new jobs will be more than $75,000 plus benefits, which is more than double the Wake County average of $35,672 excluding benefits.

With over 25 years of experience, PRA outsources and conducts clinical trials for drugs with special emphasis in oncology and in central nervous system, allergy, respiratory and cardiovascular disorders. PRA currently has more than 2,900 employees working in offices on six continents around the world. This will be the company's first facility in North Carolina.

Company leadership includes Terrance Bieker, CEO; Colin Shannon, President & COO; and Linda Baddour, Executive Vice President & CFO. All three have extensive experience in the clinical development sector including leadership positions in companies such as BioSource Intl., and PPD.

PRA International CEO Terrance Bieker said the company chose Raleigh after conducting a comprehensive analysis of potential sites.

"With over 40 biotechnology and pharmaceutical companies in the greater Raleigh area, PRA will have greater access to a highly qualified talent pool and be closer to its existing and potential customers," Bieker said.

"It was clear that Raleigh is the very best place to locate our corporate headquarters," said President and COO Colin Shannon.

"We pride ourselves in developing companies where innovation is at the center of everything we do, where enthusiasm and passion is a part of our culture, and where our employees are valued as an integral part of our success. We feel that Raleigh and Wake County will provide the environment necessary to take our company to the next level," Shannon said.

Partners who assisted with this announcement include: Raleigh Economic Development, Wake County Economic Development, Progress Energy, the N.C. Community College System, Research Triangle Regional Partnership, and the N.C. Department of Commerce.