Sydney-based Novotech today (January 15) announced that it 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. The Chief Operating Officer, Asia, Dr John Moller, said that the company's recent relocation to a larger office in Tsim Sha Tsui 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 US- and Europe-based pharma and biotech sponsors. In addition, the city is officially recognised by the China Food and Drug Administration for conducting clinical trials for drug registration purposes in Mainland China in certain therapeutic areas," Dr Moller said.
He added that the company will be engaged in more first-phase trials following the opening of Phase 1 centres 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.
Associate Director-General of Investment Promotion Mr Charles Ng said, "Hong Kong is a leading medical and pharmaceutical centre 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."
Novotech is focused on the Asia-Pacific region, running clinical trials in key regional markets including Mainland China, India, the Philippines, Singapore, Malaysia, Thailand, Taiwan, Korea, Australia and New Zealand, and it also operates in South Africa. Novotech also has worldwide reach through the company's network of strategic partners. For more information, please visit www.novotech-cro.com
About Invest Hong Kong
Invest Hong Kong (InvestHK) is the department of the Hong Kong Special Administrative Region Government established in July 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As of December 2014, InvestHK had completed over 3 440 investment projects creating more than 37 500 new jobs in the first year of operation or expansion and over HK$91 billion of investment. For more information, please visit http://investhk.gov.hk