Asian Clinical Trials (ACT), the CRO of Hyderabad, India-based pharmaceutical company Suven Life Sciences, has entered into a pact with the Beijing -based company VPSCRO to conduct clinical trial services in India and China. VPSCRO claims it is the largest Chinese CRO in term of numbers of ongoing trials. The companies stated that the agreement will provide cost-effective services with faster patient recruitment speeds in the two regions.
“Given the fact that 50% of the global population is living in India and China and the global pharmaceutical industry’s ever increasing demand to reach out to diversified patient populations, the strategic collaboration...will provide a platform offering full-fledged clinical research solutions in the Asian region to global sponsors,” stated Venkatraman Sunder, vice president of operations for ACT.
Suven stock, trading on the Bombay Stock Exchange, jumped nearly 10% on the news.