BEIJING, CHINA - 18 May 2016 | Frost & Sullivan today presented highlights from new research into why Australia is a hub for early phase clinical trials (DIA China, Beijing, May 18, 2016). The study was supported by Novotech, Australia’s largest independent clinical contract research organization (CRO) with offices throughout Asia.
The Frost & Sullivan research report, which will be released next month, shows that cost, regulatory speed and flexibility, and quality are the key drivers for biopharma companies selecting Australia for early phase trials.
The report says Australia has a proven reputation with regulators including the USA FDA for quality research.
The research highlights were presented at DIA China:
Location: 8th DIA China Annual Meeting, China National Convention Centre, Beijing
The research shows that Australia with its tax Incentive program can be up to 60% more cost-effective to run trials than the USA.
Novotech Asia COO, Dr. John Moller said Novotech wanted data on how Australia was perceived in the global clinical trial sector, especially for early phase trials.
“As a leading independent Asia CRO with offices throughout the region, we commissioned the Frost & Sullivan research to better understand how the industry was evolving in our part of the world,” Moller said.
“This research will further inform the way we, and other CROs in Australia, communicate twith sponsors from Asia and the USA on why they should consider Australia for early phase studies.”
According to the report: “In 2015, the Australian CRO market generated almost USD400 million in revenue; the market is expected to reach USD615 million by 2019, growing at a CAGR of 12%. Early phase clinical trials have been growing at nearly twice this rate which we expect will continue.”
Novotech has been actively involved in hundreds of drug development programs for US and EU registration over the past 20 years.
At DIA Moller commented on reasons why Novotech expanded operations to China in 2014 saying: “China’s increasingly sophisticated clinical trial infrastructure and its 1.36 billion population with a high incidence of chronic diseases, makes it a compelling choice for our EU and USA biotech and pharma clients. However, the Chinese biotech sector is increasingly well funded, and we believe that Australia provides an excellent opportunity for Chinese companies to accelerate their development programmes with rapid, high quality and cost effective early stage trials”
Novotech is an internationally recognized full service CRO known for its experience across Australia, New Zealand and Asia, representing emerging markets with a population base of over 3 billion people.