PRA Health Sciences ($PRAH) is moving into a bigger space in Singapore, consolidating its operations there and looking to boost its share of the growing market for clinical research in Asia.
The new operation is part of Biopolis, a life sciences-focused research park in Singapore that is home to Takeda, Chugai, Sigma-Aldrich and other global companies, situated near some of the nation's biggest educational institutions.
PRA has doubled its Singapore workforce over the past two years, the company said, and the CRO has run 23 trials there since 2010. Settling in at Biopolis, the company is pooling its resources in Singapore and building up what it hopes will be a hub for business development in the entire region.
Meanwhile, PRA is working to expand its reach around the globe through new recruiting initiatives and a string of capacity-adding projects. In October, the company announced plans to add about 250 jobs over the next few years as it completes a new $4 million project in Pennsylvania, and PRA has debuted a handful of programs aimed at training and identifying clinical researchers who might join its ranks.
Last quarter, the CRO's revenue grew 8% year-over-year to $345.1 million. PRA is expecting a company-record $1.4 billion in revenue for the full year.
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