Maithili Life Sciences, TCG Lifesciences, Sipra labs, HINQ Pharma-CRO, Auriga Research, Edenwell Therapeutics are in the race for the coveted Pharma Leaders Most Promising & Valuable Company in Contract Research 2018
Drugs worth an estimated $137 billion are scheduled to go off-patent in US and Europe over the next 5 years. India is poised to take advantage of the resulting generic opportunity and strengthen its presence in the global markets. With the inherent capabilities possessed by the country’s pharmaceutical manufacturers in terms of advanced chemistry skills, complex chemical synthesis and its low cost manufacturing, India is well-positioned to reap a higher share of the regulated on-patent drug market. As the pharmacovigilance system became mandatory from January 2018,major impact of the new regulatory mandates was borne by the pharmaceutical companies in our country as global pharma companies halted or limited the trials, thus delaying the introduction of new drugs in the country. As the new rules and regulations require to develop new infrastructure, new system development, etc., clinical research in the country has been deeply perturbed. Stringent regulatory guidelines play a significant role in protecting the rights and safety of patients and developing quality research environment.The regulatory changes established since 2013-14 and those that are being proposed will have significant impact on the pharmaceutical industry in India. Clinical research thus plays a vital role in development in the pharmaceutical industry. But clinical research in India came under intense scrutiny around 2013 with concerns being raised globally regarding the regulatory and ethical oversight of clinical trials conducted in the country. Addressing these concerns, the Ministry of Health and Family Welfare (MoHFW) has taken steps to strengthen the regulatory mechanism. Investigators along with Ethics Committees (ECs), Pharmaceutical Industry and Clinical Research Organizations have now realigned their infrastructures and systems in response to the new directives.
India poised to become ‘one of the largest clinical trial hubs. According to the CRO, 2017-2018 saw a “significant rise” in the number of clinical trial approvals, from 178 in 2017 compared to 84 in 2016.Additionally, the average time for clinical trial application approval decreased from about 6-7 months in 2016 to an average of 4 months in 2017-2018. The Indian clinical trials industry has begun seeing an upward trend since 2014. India has now the potential of becoming one of the largest clinical trial hubs with the expected market growth at a CAGR of [approximately] 12%.This positive trend has been primarily supported by several regulatory enhancements introduced by the Indian government making it amenable and reliable environment once again to run efficient clinical trials in India.
Here are the six finalists for the coveted category of “Pharma Leaders Most Promising & Valuable Company in Contract Research 2018
1.Maithili Life Sciences Private Limited
2. TCG Lifesciences Private Limited
3. Sipra labs Limited
4. THINQ Pharma-CRO Ltd
5. Auriga Research ltd
6. Edenwell Therapeutics Pvt. Ltd
About Pharma Leaders Power Brand Awards
Pharma Leaders Awards also known as Pharmaleaders Power Brand recognizes Asia’s top health-care industry leaders, innovators, and companies. This awards-recognition event has been honoring those individuals and/or organizations since 1999 who have a significant impact on the quality of health care and services in our communities.Pharmaleaders attempt is to recognize and celebrate science and innovation in the pharmaceutical, biotechnology, life science & healthcare industry.At the celebration day of the Awards, Companies, Academics, Partners, Government and Delegates get a glimpse of Pharmaleaders’s ongoing research and a walk through of the Network 7 Media Group ’s most recent innovations in the complex field of understanding & analyzing genes of the healthcare industry as Pharmaleaders feel that “no one understands the returning the smiles to the achievers they deserve most”.