Synchron makes Thailand foray

With a view at tapping the South East Asian as well as the Chinese market, Ahmedabad-based clinical research organisation (CRO), Synchron Research Services (SRSPL), is making a foray into Thailand.

"This will mark the entry of the first CRO from India in Thailand. We are investing in setting up a bio-equivalence centre, which will be commissioned in August this year. This will help us reach out the Chinese markets too," said Shivprakash, managing director, Synchron.

The company provides a broad range of clinical research services, which inlcudes phases I to IV and includes quality assurance, statistical analysis and data management capabilities in compliance with GCP, GLP and ICH guidelines and regulations.

"We are also studying several firms in the US and Europe and are planning for strategic relationship and takeovers," said Shivprakash adding that the markets in these regions, unlike that of India have matured and even saturated.

One of the leading bio-pharmaceutical outsourcing organisations of the world, Paraxel, recently announced that it had entered a JV with SRSPL. "Paraxel has its presence in 39 countries and this helped us achieve a global footprint," according to Shivprakash.

In the next few years, the company plans to diversify into businesses such as in-vitro technology and hi-throughput screening. Shivprakash added, "We are also planning to start a dermatology division in two months time."

Synchron is also putting up a new facility for research at the Sarkhej-Gandhinagar highway with an investment of Rs 5 crore. The company's turnover in 2004-05 was Rs 5.5 crore, which has grown to Rs 12 crore in 2005-06, Shivprakash said.

"We aim to achieve a projected growth of Rs 22-23 crore in 2006-07," he added.

Recently, the firm came out with a research-based herbal neutracireal product for a US company. The product, prepared from extracts of grapes, is useful for diabetics.

Talking about CROs, he said that the industry is worth about Rs 250-300 crore with a growth rate of 20-25 per cent every year.

"Every company is planning to get into the generics segment. The pharma players need to focus more on R&D and make intellectual property their main stay instead of relying only on mergers and acquisitions, said Shivprakash and complained, "there are hardly any new molecules being discovered in the recent past."