The Vietnamese government is looking to boost its share of the world's clinical research market, signing a deal with CRO giant Quintiles to get the ball rolling.
Quintiles was among the first CROs to jump into risk-based clinical trial monitoring, and now the world's largest contract researcher is stretching out its platform, offering adaptive services that span the whole development process.
Quintiles declined to divulge financials when it signed up to buy Novella Clinical in August, but a regulatory filing reveals that the world's largest CRO spent $146.5 million upfront for the contractor, with more money on the line tied to milestones.
Quintiles, the world's largest CRO, is raising its annual profit projection as new partnerships and soaring income made up for flat revenue in the third quarter.
India's ongoing efforts to tighten clinical trial regulations have stirred controversy among researchers around the globe, and now the world's largest CRO has shuttered one of its facilities in the country, citing a tough regulatory climate.
Novella Clinical has snagged its first high-profile partnership since being bought by CRO giant Quintiles, teaming up with biotech Scioderm to manage a mid-stage trial of the company's rare skin disease treatment.
Quintiles is lending its research and analytics expertise to the Muscular Dystrophy Association, signing a deal to develop a massive registry of patient data that could help investigators develop new therapies.
After a booming 2012, the CRO industry is likely to grow even further, one analyst projects, riding an increase in biotech funding and drug development successes.
Quintiles, the world's largest CRO, has launched a study to determine whether preprofiling cancer patients for key biomarkers can ease trial enrollment and speed drug development.
Quintiles has kicked off a study to determine whether early genomic profiling of cancer patients can help inform physician decisions and match the right participant with the right study, a method the CRO said could speed up the development process of personalized drugs.