Outsourcing in Clinical Research - The Indian Perspective
New pharmaceutical strategies pursue increased Research and Development (R&D) investments ranging 15-20% in contrast to late 80's period where classical model across was 10%. The annual budget allocation spent with clinical research organizations (CRO) is approximately $12 billion in an attempt to increase throughput, which has predominantly benefited CRO's who have seen their turnover boost growth of 20-30% year on year. The $9.57bn world market for contract clinical research services growing at 13.4% comprising of pre-clinical and Phase I, II, and III clinical services provided by CRO to pharmaceutical and biotechnology drug developers. U.S. still holds majority stake in the slice with more than half of 1000 companies engaged in the business having their base in US. This is primarily due to the status of U.S. as the world's largest drug market and the favorable conditions it offers for contract research services. Recent trends have seen clinical research segment gaining weight outside US boundaries, getting established in Europe and Asia. India and China share the major chunk of benefits from a rise in clinical research activities in Asia. The revenues still remain relatively low in comparison to overall CRO sales because of the extremely low currency valuations in these regions.
Frost & Sullivan is organizing a premium event, "Global PharmAlliance 2005 - Becoming the partner of choice" being held at Mumbai (India) on September 30th and 1st October, 2005. A gathering of experts and leaders from Indian and global Life Sciences industry, the conference will serve as a conclave of thought leaders and insights into their learning's and also serve as an ideal platform for networking and initiation of business partnerships. With international participation expected from leading pharmaceutical companies, contract service providers this summit could be an arena for knowledge exchange in the areas of R&D, strategic partnership and outsourcing, emerging technologies in drug manufacturing, custom synthesis, clinical research, marketing and distribution, global leadership, and many more. The two day event not only focuses on giving an insight into the world of partnerships and alliances through presentations and discussions but also recognizes the companies who have been the best at partnering through the Frost & Sullivan Awards - Partner of Choice.
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