Sydney, Australia-based Novotech has expanded its Hong Kong operation into a permanent office with more staff to meet the increasing demand in the pharmaceutical market for clinical research.
The company began operating in Hong Kong in 2013. Dr. John Moller, chief operating officer, Asia, said the company’s recent relocation to a larger office in Tsim Sha Tsui is aimed at meeting growing demand from drug companies on the back of a thriving pharmaceutical industry in the region.
“Hong Kong is a significant market in high demand from U.S.- and Europe-based pharma and biotech sponsors. In addition, the city is officially recognized by the China Food and Drug Administration for conducting clinical trials for drug registration purposes in Mainland China in certain therapeutic areas,” said Moller.
Moller said the company will be engaged in more first-phase trials following the opening of phase I centers at some universities in Hong Kong. “In the next few years, we also see a need to expand our workforce by recruiting experts locally to meet with our business expansion,” he said.
Charles Ng, associate director-general of investment promotion, said, “Hong Kong is a leading medical and pharmaceutical center in Asia. It provides not only sustained demand from a diverse range of drug companies for clinical research but also experts in different clinical trial disciplines who can help foreign companies like Novotech to strengthen and expand their footprint in Hong Kong as well as in the region.”