By IANS
Ahmedabad : What Bangalore is to IT, Ahmedabad is to clinical research industry. Once known for its textiles industry, Ahmedabad is now fast becoming a hub for pharmaceutical companies, both from India and abroad, to set up clinical research organizations (CRO).
“Right now Ahmedabad is at the top of the league of CROs in India. This status is only likely to strengthen further with more and more drug companies seeking to open CRO centres here because of cost effectiveness,” said V. Srivatsan, Director of Lambda Therapeutic Research Limited, a CRO sponsored by city-based Intas Pharmaceuticals Limited.
Clinical research is the effects of new drugs on humans for discovering the safety and efficiency levels of the drugs.
Besides Ahmedabad, the other major CRO centres in India are Mumbai, Chennai and Bangalore, Srivatsan added.
CRO business has also received a shot in the arm with the Institute of Clinical Research India (ICRI), spread over an area of 10,000 square feet, opening its campus here.
Srivatsan listed presence of a large and diverse patients’ pool for conducting clinical trials, excellent infrastructure facilities, availability of large pool of medical, pharmacy and science graduates and comparative cost advantage as the four reasons why Ahmedabad has emerged as a major hub for the industry.
The clinical research industry in the country, according to industry data, has grown five fold to Rs.1 billion in the last three years.
As per a recent McKinsey report, it is expected to touch Rs.50 billion ($12 billion) by 2010 and will employ 50,000 people.
According to industry estimates, the clinical trials market worldwide is worth over $45 billion and has the potential of generating large employment.