Tuesday, August 23, 2016
The global in vivo CRO market is expected to reach $4.9 billion by 2024, according to a new report by Grand View Research. Economic efficiency and focus on core competencies by pharmaceutical giants are anticipated to be the primary market promoters.
Gov. Matt Bevin has announced CTI Clinical Trial and Consulting Services, a global, privately held company providing therapeutic expertise to the pharmaceutical and biotechnology industries, will relocate its headquarters to Covington with a $36.4 million investment projected to create up to 500 Kentucky-resident jobs.
By Craig Morgan, brand development director at goBalto Inc.
By 2020 72% of clinical trials are anticipated to be outsourced, up from just 23% in 2012. Sponsors are seeking cost reductions, access to specialized knowledge, and increased speed and agility. Meanwhile, CROs focus is on business goals related to economic outcomes for their owners, investors and shareholders. Each group is expecting deliverables and timelines to be met or exceeded for potentially different business reasons, leading to a traditional client/vendor-type relationship. Though alliances and partnerships are increasing, there continues to be a client/vendor mentality at the operational and management levels, which perpetuates a lack of trust and empowerment.
H2O Clinical, based in Hunt Valley, Maryland and Northbrook, Illinois-based Pharma Start, have announced plans to merge. The CROs, which provide a range of outsourced research services to the pharmaceutical industry, already have a history of close collaboration. Each company will continue to operate as it has in the past, and there will be no disruption to current operations or customer contracts.
Sekisui XenoTech has added additional hepatotoxicity screening assays and methodologies to the company’s existing cytotoxicity contract research services. Cytotoxicity studies assess the risk that test articles may cause toxicity in cells, with hepatotoxicity specifically related to the liver.
Medpace Holdings has announced the pricing of its initial public offering of 7,000,000 shares of common stock at a public offering price of $23 per share.
Pharmaceutical Product Development (PPD), a global CRO, has entered into an agreement to acquire Evidera, a provider of evidence-based solutions to demonstrate the real-world effectiveness and value of biopharmaceutical products.