Global pharma companies are in distress and have resorted to downsizing. Therefore companies are looking for strategic partnerships and opportunities to set up drug development units in India, according to experts.
Identifying companies and locations in Asia is the way forward for clinical and contract research companies to carve out their future growth paths, pointed out Dr Amar Kureishi, chief medical officer and Head of Strategic Drug Development, Quintiles in Asia-Pacific.
The key objective now is to create world class, first in Asia strategic drug development unit, he added.
Dr Keith Bostian, chief executive officer, Vanta Bioscience, stated that the requisite for a new contract research organization was global reach, expertise and being open to strategic collaboration. Therefore, companies should scout for a preferred partner of choice in the global bioscience space. Core services in the contract research arena would also include developing platforms in toxicology and pharmacology which includes high facilities and local partners in Asia, Europe and USA.
Dr Surinder Kher, chief executive officer, Asia, Ecron Acunova, and Dr Partha Gokhale, Head Clinical Operations India, Boehringer Ingelheim India Pvt Ltd., pointed out that the bio-science companies are on a partnership mode. The main area of focus now revolves around expanding footprints and transforming equations from collaboration to partnership. There is need to look at Asia more closely for drug development. The region is viewed as a fast growing market, with higher research frequency and economies-of scale. The presence of a vast population with high disease incidence and increasing life expectancy would now help companies in the global market to capitalize on the resources through alliances and partnerships with leading companies.
“The growth acceleration of clinical development depends on the current funding crunch and development gaps which are widening. Companies need to devise a virtual model to identify development partners and share risks. Therefore the strategic execution of maximizing on the available resources both human and financial will be the way forward for clinical and contract research building capabilities through strategic partnerships,” stated Dr Abhijeeth Chandrasekaran, Clinical Scientist, RxMD.
The panel of experts were deliberating during the recently concluded Bangalore India Bio 2012.