InVentiv Health ($VTIV) is betting on a big expansion in Japanese R&D, forming a strategic alliance with local CRO Bell Medical Solutions to offer lab services in the country.
Bell already has preferred-partner deals with top drugmakers in Japan covering Phases I-IV, the company said, and adding inVentiv's global capabilities to its commerical offering will help recruit more local drug developers and international companies looking to run studies in Japan, inVentiv CEO Paul Meister said.
"This alliance provides Bell Medical Solutions with inVentiv's significant international reach and the ability to participate in larger, global studies," Meister said in a statement. "For inVentiv, the alliance bolsters our already significant position in Japan to better support our clients who are capitalizing on exciting opportunities for growth."
Japan is among the world's best markets for drug companies, inVentiv said, offering high sales growth rates to pharmas and an attractive R&D climate for global biotechs. The country's regulatory body has worked to slash approval times for new drugs over the last 5 years in an effort to accelerate new treatments for its aging population, the company said.
All that makes Japan the ideal destination for inVentiv's expansion and Bell the perfect partner to catalyze it, inVentiv Health Clinical President Ray Hill said.
"Bell is not just a respected CRO; it is also embedded in the Japanese healthcare and drug-approval system," Hill said in a statement. "It is a crucial time for our clients operating in Japan, and we can now provide all the support they need to succeed."
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