Parexel to tap India's potential in clinical research
Friday, 30 April 2004, 07:00 Hrs
NEW YORK: Boston-based Parexel International Corp., a $615 million biopharmaceutical outsourcing company, said Thursday it has entered into a tie-up with Synchron Research Services of Ahmedabad to tap India's emerging potential in the area of clinical research outsourcing. Under the alliance, Nasdaq-listed Parexel will leverage Synchron's capabilities to benefit biopharmaceutical clients with expanded geographic coverage and patient recruitment capabilities in India, the company said in a statement. The alliance also provides Synchron's customers with access to the clinical trial expertise, advanced technologies, and project management skills of the Parexel, whose operations spread across 37 countries. "The collaboration with Synchron expands our global clinical research services into regions that should help expedite the drug development process for our clients," said Parexel chairman and chief executive Josef H. von Rickenbach. "Our alliance with an established company headquartered in India underscores Parexel's commitment to providing clients with comprehensive drug development services in emerging markets." Commenting on the alliance, Shivprakash, chief executive officer of Synchron Research, said the company will now be able to offer clients an extensive portfolio of clinical development solutions. Founded in 1998, Synchron provides a wide range of Phase I-IV clinical research services, including regulatory affairs, quality assurance, statistical analysis and data management capabilities. Its facility also includes a bio-analytical laboratory and a 36-bed clinical pharmacology research unit to conduct technical studies in areas such as bio-equivalence and bio-availability.