explores new markets
Clinpharm’s clinical data management business has expanded
rapidly in the past few years.
Siro Clinpharm Private Limited, founded by Dr Gautam Daftary, offers
services for conducting clinical trials in pharmaceutical,
biotechnology and medical devices sectors in compliance with
international standards. The company has offices in India, Europe and
the US. The clinical services offered by SIRO are clinical project
management, clinical data management and biometrics, clinical
monitoring, medical services and pharmacovigilance, trial feasibility
analysis, quality assurance, medical writing and clinical trial
Dr Anand Bidarkar, vice president, Business Development, Siro
Clinpharm, said, “With the US and Western Europe markets
still being our biggest clients, we now want to differentiate ourselves
from other CROs by entering into those geographies which are unexplored
but which offer the same advantage as India. That is where we can
emerge as an Indian MNC CRO.”
As the first step towards its expansion plans, Siro Clinpharm had
acquired Omega Mediation Group, a mid-sized European CRO for an
undisclosed amount. Omega Mediation which was started in 1992 as a
trouble shooting CRO for pharma companies has operational capabilities
in Germany, Greece, Estonia, the Baltic States and Israel. The European
arm will be known as Omega Mediation, a Siro Group company.
Prior to this deal, Siro’s model was always to enter into
strategic alliances rather than M&As, but the acquisition of
Omega Mediation has proved that Siro is open to other avenues as well.
The acquisition of Omega Mediation has given Siro a 100
percent stake in Omega. The acquisition will give them access to the
operational capabilities in five key European countries and Israel and
also an access to Omega’s clients which include its European
pharma and biotech clients. Siro had also established its presence in
the US by acquiring its partner Global Client Partners (GCP) in October
2007 for an undisclosed amount.
Siro also have alliances with Pfizer and Fisher Clinical services. Siro
USA provides the necessary US-based project management, client liaison
and other direct drug development support services for clients in the
US. “Following a consistent high growth over the last few
years, having presence in the US had become a necessity in providing
rollout support and closer communication,” said Dr Bidarkar.
Siro announced the implementation of IT framework comprising of
Oracle’s Life Sciences Applications (OLSA) and other Oracle
applications running on Sun Microsystems (Sun) hardware platform.
“This will help us to achieve both our organic and inorganic
growth plans across the globe,” said Dr Chetan Tamhankar,
chief operating officer, Siro. The company is estumated to have clocked
Rs 280 crore in revenues in 2008-09.