Siro plans European growth; updates on Omega integration
The units in Germany, Greece, Romania, Estonia and Israel, which will now operate under the Siro Clinpharm brand, were added to the contract research organisation’s (CRO) clinical trials network in 2008 with the acquisition of German counterpart Omega Mediation.
Siro spokesman Aniruddh Patwardhan told Outsourcing-pharma that the renaming procedure is a small but significant part of an overall integration plan.
“Going forward, we are looking at maximizing on synergies arising out of the integration process. We are working on few business models which will require teams across both geographies to work as globally integrated delivery teams.”
Patwardhan explained that the region's clinical trial sector, particularly in emerging markets in central and Eastern Europe, is increasingly attractive because of its considerable “untapped potential" and abundance of potential drug industry customers.
He added that: “Siro will be opening offices in two more European countries by the end of the first half of 2010. In terms of global expansions, we have a road map planned and you shall start seeing activity on this front in next 12 to 18 months.
“We plan to offer our clients value through Indo-European synergies that give us flexibility and cost advantage over our European competitors.”
In a press statement, Siro CEO Chetan Tamhankar said that the Omega integration “has been going great and we have huge expectations with strategies mapped out to ensure that we expand in Europe further and grow as aggressively as we have been”.
Further evidence of Siro’s European ambitions came late last year when the Mumbai-firm partnered with UK regulatory affairs specialist CambReg, and French early-stage development group Mediscis.
