Novotech expands in Asia with new Malaysian base
The contract research organisation (CRO), which already has operations in India and Korea, said that, in addition to Malaysia, the facility will manage operations in Singapore, Thailand and the Philippines.
In common with almost all CROs that expand anywhere, Novotech said that improving access to potential study participants was a motivation for the expansion.
However, for Novotech the need is particularly pressing given that the firm landed contracts for 23 multi-centre Ph II and III trials in June, all of which are due to take place between now and 2014.
Although details of the specific contracts have not been released, Novatech did confirm that they were with major US and Euopean organisations in a range of therapeutic fields including oncology, CNS disorders and cardiovascular disease.
In a press statement, CEO Alek Safarian stressed the regions large, ethnically diverse population as a benefit explaining that, in particular, it will help Novatech meet growing drug industry demand for cost effective research.
“A sizable patient population, transparent regulatory environment, time zone compatibility with the Australian headquarters and Government and clinical sector support for research all make the region very attractive.”
Safarin also said that the expansion fits with its efforts to generate more than half of its contract research revenues for operations outside Australia in the next three to five years.
The Kuala Lumper office is due to be fully operational in the next few months with the other new regional offices scheduled to open before the end of the year.
