SMO Clinical Research (I) Pvt Ltd (SMO-India), a pure Site Management Organisation (SMO) based in Bangalore, is planning geographical expansion in a big way by setting up operations in Singapore, Malaysia and Thailand within next six months.
The company, which is currently handling nearly 40 site management projects for domestic and multinational Clinical Research Organisations (CROs), will commence operation in one of the three far-east countries in the end of this financial year, according to Dr Ram Anjaneya, managing director, SMO India.
"We will be handling the operations in these three countries by setting up an office in one of the countries. The plans are initial stages and we have not decided the place to set up the regional office. Our operations will be started in Far East either by the end of this financial year of in the beginning of next fiscal year," he averred. The company has earmarked around US$ 1 million for the international operations in the current fiscal.
The company is in discussion with some of the local hospital managements in Singapore, Malaysia and Thailand to set up the operations. Apart from geographical advantages for Indian companies to set up operation in Far East countries, the mushrooming clinical research industry in these countries are an attraction for the company, maintained Dr Ram.
SMO India currently has 10 exclusive hospital partners and tie up with another 40 hospital sites throughout India for site management operations including patient recruiting and clinical data collection. A Clinical Research Coordinator (CRC) for each site has been assigned for round the clock service in each of the sites to ensure quality and full time service to the customers.
The company, which has tied up its activities with the California-based Arrowhead Regional Medical Centre in August 2007, is also planning its expansion of operations in the US.
Launched in April 2007, SMO India currently has recorded a turnover of Rs 13.5 crore and the company targets to achieve a growth to Rs 25 crore with the consolidation of Indian operations and establishment of overseas projects, he added.
SMO India is currently working to identify sites for its clients in which clinical research practices and clinical trials are consistently conducted in accordance with ICH, GCP and FDA standards. The firm would coordinate with its clients to identify and build the best-suited strategic alliances for outsourcing and conducting outpatient and phase I and IV inpatient clinical trials involving pharmaceutical, biological and medical device products.