Business Daily from THE HINDU group of publications
Sunday, Jan 21, 2007
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Business Daily from THE HINDU group of publications Sunday, Jan 21, 2007 ePaper |
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Industry
& Economy - Research
& Development Contract research revenues to touch $1 billion by 2010 Our Bureau
A new study puts Contract Research Organisations (CRO) on a 50 per cent growth trajectory. And Indian CRO market is set to grow to $1 billion in revenues by 2010, says the Accelerator Group Outlook, an international strategic advisory and knowledge services firm. With its large patient population, English speaking scientific and healthcare personnel and relatively lower costs, India has been a preferred destination for CROs. According to Accelerator, the next five years could see a rise in mergers and acquisitions, not only by international companies acquiring interests here, but also Indian companies making offshore acquisitions to expand globally. Companies could work on their expansion ambitions by acquiring technical capabilities such as voice-based data collection systems and Web-based clinical trial platforms. Mergers and acquisitions for 2005-06 in the global CRO industry were observed to be strategic in nature and based on 100 per cent cash consideration. The average deal size had also increased from $15 million in 2005 to $35 million in 2006. The deal between Jubilant Organosys and Target Research Associates is an indication that there may be many more international CROs acquired by domestic companies in the future, say those behind the study.
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