Ahmedabad-based Veeda Clinical Research, a world class global contract research organization, will be offering its services to Shanghai-based Novamed Inc.

Novamed Inc's business model is to facilitate clinical development work in China, India and South Africa on behalf of international companies that are not present or focused in these regions. Its partner companies are hoping to capitalize on the cost arbitrage opportunities as well as speed of doing clinical research in India, China and South Africa.

The company is seeking to secure the services of a professional CRO based in India. Veeda with offices and facilities in both the UK as well as that of India fitted the slot. The proposed agreement is designed to allow for Novamed to seek development projects from Japan, the US and Europe which in turn will be delivered through Novameds development network in India, China and South Africa.

"The relationship with Veeda represents an important development in the Novamed development strategy. Leveraging the skills and arbitrage opportunities that India and China offer the international company, places the two companies in a unique position globally," said Mark Lotter - CEO , Novamed Pharmaceuticals Inc.

"The opportunity will allow Veeda to further leverage its offering. Our experience in Clinical Development and Biometrics from Europe and our cost effectiveness and patient recruitment efficiency from India, has provided us this opportunity," stated Apurva Shah - managing director, Veeda Clinical Research Pvt Ltd.

NovaMed aims to build a global portfolio of products. It set base in China because of the more regulated and efficient competition in the post WTO regime and emergence of western based diseases. The pharmaceutical market size in China is expected to be USD 28 billion by 2010 with an annual growth of 16.3 per cent.