Saint Petersburg-headquartered OCT, conducts clinical studies in Russia, Ukraine and other Eastern European countries while Seoul-based LSK carries out equivalent work in Korea, Japan, Taiwan and Malaysia.
Tigermed, one of the largest contract research organisations (CRO) in China, hopes that the strategic alliance will help it expand its capacity and territorial client base and provide a network from which it can further its penetration into the lucrative European and US trials markets.
Company vice president Cao Xiachun said that: "By forming these strategic alliances, Tigermed takes the pioneering position in exploring business potential and achieving breakthroughs in global service capabilities through cross-border cooperation, which is a significant move for China's CROs.”
She explained that: “Strategic collaboration is one of our important tactics to expand global business, and this type of partnering becomes an essential part of our international strategy."
Chinese trial firms set to dominate sector?
Clinical development has long been a strength of the Chinese outsourcing sector, in contrast with India where manufacturing dominates. This situation may polarise further if, as is expected, India places further restrictions on research after a recent series of high profile problems with studies conducted in the country.
Earlier this month a report by the Campaign for Fighting Diseases, part of the UK-based International Policy Network, raised this point by suggesting that removing support for India’s emerging clinical trials industry would be a mistake.
"Although it is not clear if the clinical trials were culpable, should the inquiry suggest new regulations, the real winner will be the Chinese economy rather than Indian patients," commented the report's authors, Philip Stevens and Julian Harris.