|Accutest Research Labs CEO Satish Sawant|
Accutest Research Laboratories moved to expand in Latin America, announcing on Monday that it is establishing offices and operations in Brazil.
The Mumbai-based CRO, which performs bioavailability and bioequivalence studies for all key regulated markets, hopes to participate in and shape the potential of the Latin American CRO market, the Accutest said in a statement. It also hopes to contribute to the growth of the pharmaceutical sector in Brazil. But the company has designs on more than just Latin America.
"Opening offices in emerging countries to support drug development is a key element of our expansion strategy," said founder and CEO Satish Sawant. "We have identified seven emerging countries to develop operational capabilities, and by opening offices in Brazil, Malaysia and Taiwan we have completed our current expansion phase."
Brazil is a strategic choice for the CRO. According to the statement, of the more than 80 regulatory accreditations or approvals it has won from various regulatory agencies, 12 of them are from ANVISA in Brazil.
And that's not all it's got going for it in Brazil. Market surveys show that it is one of the fastest growing pharmaceutical markets in the world, with a large population, an investment friendly environment, an effective patent protection regime and a relatively low incidence of counterfeit drugs.
- read the release