Parexel cements itself in India

By Kirsty Barnes

- Last updated on GMT

Related tags Clinical trial

Parexel has linked arms with Synchron to cement itself in India for
the first time - joining the growing number of contract research
organisations (CRO) that are being lured to the region through the
promise of cost savings.

The US-based firm has now entered into a joint venture with Bangalore-based Synchron Research Services, after having collaborated with the Indian firm since 2004.

Parexel now owns a majority stake in a newly formed entity called Parexel International Synchron Private Limited into which Synchron has now transferred its existing clinical trial business operations.

Parexel also acquired a minority equity interest in the 86-bed clinical-pharmacology business of Synchron in Ahmedabad, India.

"As demand for clinical research services in India continues to increase, we decided to expand our collaboration with Synchron,"​ said Josef von Rickenbach, chairman and CEO of Parexel.

The purchase will enhance Parexel's presence in the fast growing Indian market, enabling it to provide Phase I-IV clinical research services, including quality assurance, statistical analysis and data management, at a fraction of the cost than in the West.

With the average cost per patient of running a US-based clinical trial being $5404 (€4244) for Phase I, $6538 for Phase II and $7635 for Phase III, pharma companies are flocking towards low-cost destinations such as India in a bid to cut direct clinical trial costs.

In 2005, contract research in India was valued at $100-120m and growing at a rate of 20-25 per cent each year. India now holds nearly double the business of its nearest rival, Italy, with a market value of $60-70m.

Parexel is one of over 15 prominent CROs and ten large multinational pharma companies who are now operating in the country.

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