Updated on 6 October 2014
China is the largest destination for clinical trials in Asia
Singapore: Novotech, Australia's largest Clinical Research Organization, has expanded its Asia business by opening a new office in Shangai, China. Apart from China, Novotech has offices at nine places in Asia including Taiwan, India and Korea.
Mr Alek Safarian, CEO, Novotech, said, "The increasing demand from US and EU customers of Novotech to conduct their clinical trials in Asia was a major driver that led to the opening up of a new unit in China." Novotech had also added sites in Hong Kong and the Philippines in July, 2013.
Mr John Moller, Asia COO, Novotech, said, "China is the largest destination for clinical trials in Asia. The country's 1.36 billion population and a large number of people suffering from chronic ailments makes it a compelling choice for our EU and the US biotech and pharma clients."
Mr Moller said that the Chinese government encouraged research and had allocated $18bn to foster the growth of biotech and pharma industry, as a part of its five-year plan.
Many companies like Charles River laboratories and Wuxi pharma are also trying to take advantage of the boom in clinical research in China and are seeking to establish offices and explore newer opportunities in the region.