19 Mar 2012, BioSpectrum Bureau , BioSpectrum
Dr Xiaochuan Wang, chairman & CEO, Sundia MediTech, founded the company in 2004 along with Dr Ming Tang and Dr Ming Qi. Excerpts from an interview with her:
What are the major changes in CRO market from the year 2004 to 2010?
When compared to 2004, the CRO market has undergone a vast change now. In 2004, most companies were only willing to give custom synthesis work to Chinese CRO, no core research project came our way. Companies approached CROs for cheap labor and they were concerned about the intellectual property. Now, companies, not only from the US, but even from Europe and Japan, pay close attention to quality, R&D capability, management, technology than just the price. Those companies look at our CROs as their partners, not just for affordable labors.
What are the current challenges faced by your organization?
The current challenge for us is to ensure Sundia's growth. We have to maintain our reputation in quality, professional management, IP insurance and expedited delivery along the growing/development process. In order to fulfill the demand from the market we have to build a strong capability in R&D and innovation.
What are your plans for the company in the next five years?
In the next five years. Sundia will extend collaborations with research institutions, universities and the experts over various fields and will develop innovative ideas and technologies to speed up the drug discovery process, to increase the success rate and to reduce the cost for our partners.
Your views on receiving BioSpectrum Asia Pacific Entrepreneur of the Year Award?
I appreciate the award and thank the selection committee. I have to say, it is the reward to my team, to all Sundians. Without the team, Sundia could not have reached where we are now. We will take this award as an encouragement to move forward to win a bright future for Sundia.
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