"We are trying to emerge as an Indian MNC CRO"
-Dr Chetan Tamhankar, COO, Siro Clinpharm Pvt Ltd
Siro Clinpharm had recently announced its implementation of the Oracle Life Sciences Applications to improve operational efficiencies in clinical development. This IT framework will be a catalyst in commencing Siro's globalization plans. While DBMS Consulting will implement Sun Microsystems infrastructure, Oracle Life Sciences Applications will optimize Siro's clinical trials and clinical data management operations. Dr Chetan Tamhankar, chief operating officer of Siro Clinpharm Pvt Ltd shares more insights.
Can you elaborate on the IT framework which Siro Clinpharm has initiated in association with Oracle Life sciences and Sun Microsystems?
It is Oracle Life Sciences, which covers the system for managing the clinical trials globally, a system for doing data management, electronic data capturing and internal business systems. We hope to build efficiency in our work here in India. As our thrust now is on globalization, it will become critical that our monitors stationed in Europe and Asia access the system and get the reports on time. Oracle is in a good position to help us achieve continued growth and support.
When did Siro realize that such a framework had to be implemented?
We have been in this business for the last 12 years and know how to deliver in India. But the question was what's next? We needed to look beyond the normal route to maintain our growth rates. We needed to address some limitations on the supply side be it manpower or trained doctors in India. This framework was also needed with our plans to go to non-traditional geographies like Central and Eastern Europe, other parts of Asia like Philippines Singapore, China, Korea, Thailand and Malaysia. We are trying to emerge as an Indian MNC CRO. To have this global desirability we need to have seamless operations between different geographies. That's when we believed that what we were doing till now was only good for our operations in India. The new IT framework can help us achieve our global plans.
How will this help in Siro's globalization plans?
It will increase our efficiency in R&D and allow for seamless operations across the globe. This will fall now within the purview of Sun Microsystems. So tomorrow if we set up a data management base in Europe, interaction between experts sitting in different databases across the globe, say Europe and India, will be smooth sailing. So the IT system will help people to be connected everywhere and it will greatly help us in making work efficient and faster.
What are some of your growth strategies?
The goal is to come up with delivery strategies in this region, look for customers and tap markets, and create business development and sales availability in geographies like North America, Western Europe, and Japan. If we need 500 patients to be taken in, we will get a manager from Germany, recruit in Romania, Hungary, Philippines and India and thus get the 500 patients. All these years we have been talking about a smaller pie of the larger global clinical trials but now we want to position ourselves for a bigger share through our European and Asian capabilities and this IT framework will help us achieve this goal and we will also be able to cater to global demands.
Are you considering any M&As?
While global CROs are coming to India, Indian companies wish to become global players through presence in other countries, building their credibility and capabilities. That will definitely happen in the near future and Siro at the moment is targeting countries within Europe from that perspective. Acquisitions within the domestic market will cost us much more. We are pretty close to signing an agreement in Europe.