British companies are looking to partner with Indian clinical research organisations (CROs) in a bid to tap the $1 billion (about Rs 4,800 crore) clinical research market in India. This is on the back of growth in Europe having stagnated.
“The idea is to partner with Indian CROs who have to do a part of their trials in the UK or elsewhere in Europe. If the results of the trials are positive, they will be able to launch their products,” Catherine Harper, clinical trial business manager of Wellspring Clinical Services said. Her company is in talks with some Indian companies for possible collaborations for both inbound and outbound clinical work.
Industry observers believe that a partnership will benefit Indian CROs, as they will get guidance on the approvals needed to transport the drug samples while UK companies will gain from increased business. There is a huge untapped potential in India since the country currently accounts for less than 5% of global clinical trials.
Shashank Rohatagi, executive director at Daiichi Sankyo India Pharma
said, “Doing clinical trials in a place opens up the market in that area for your products. More companies are looking at conducting their trials in India since our population has six out of the seven genetic variations that exist.”
UK-based Cognitive Drug Research (CDR), a provider of systems which allow clinicians to test cognitive functions in patients, is looking to establish a presence in India.
David Strinati, business development associate at CDR said, “We are looking to partner with CROs and pharma companies, since India is a growing market for clinical trials.” The company is also looking at tapping the healthcare segment with memory clinics in hospitals.
“Partnerships can help reduce both time and costs as well as provide access to expertise and other resources. Sponsors will also benefit by focusing on their core competencies,” Mr Rohatagi said.