Quintiles is expanding its reach in the Asia-Pacific region with the launch of Kun Tuo, a new contract research organization in China.
The new CRO will serve pharmaceutical companies in China as well as multinational biopharma companies that have operations in the country. Kun Tuo will also tap the resources of Durham, North Carolina-based Quintiles, which is the largest company in the CRO industry.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Quintiles recently exited a piece of the Asia-Pacific market with the sale of its minority stake in Invida, a drug commercialization joint venture based in Singapore. Invida, which was acquired by Italian pharmaceutical services provider Menarini Group, was formed in 2005 to support biopharmaceutical sales in the Asia-Pacific region.
But the Invida sale was not a departure from pharmaceutical outsourcing in the Asia-Pacific market. Quintiles has had a China presence since 1997 and the company now employees more than 300 staffers there. The Kun Tuo launch signals the CRO’s plans to generate more business from China. Ling Zhen, general manager, Quintiles China, said in a statement that the company has “an aggressive growth plan for China” adding that Quintiles anticipates doubling its total staff in China in 2012.
Quintiles is not the only CRO with active China growth plans. Icon (NASDAQ:ILCR) on Monday announced its acquisition of Beijing Wits Medical Consulting, a China-based CRO that will add to Icon’s existing presence in the country.
“An increasing number of our global clients are looking to undertake research in China and local companies are also placing more emphasis on R&D, which has resulted in growing demand for local clinical trial expertise,” Icon CEO Ciaran Murray said in a statement.
