equity research william blair & company llc 222 west adams street chicago illinois 60606 312 236 1600 www williamblair com has received compensation for investment banking services from icon plc ppd inc pra international and parexel corporation within the past 12 months or expects to receive intends seek in next 3 please consult pages 32 33 of this report all disclosures health care pharmaceutical outsourcing march 22 2006 industry 06 030 iclr 46 75 outperform aggressive growth prxl 25 66 market perform ppdi 35 10 core prai 40 john kreger 364 8597 jkreger natalie freedman cfa 8848 nfreedman cro update results survey pharma biotech sponsors conjunction with thomson centerwatch we conducted our second biotechnology regarding their experience vendors general trends affecting contract organization recently a executives at 23 pharmaceu tical companies experiences
