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Claris sets up contract research firm Xcelris |
| Economic Times Ahmedabad; Feb 8, 2007; Gujarat Reloaded; Narayan Bhatt |
IN a bid to tap the large global clinical and contract research market, the Rs 400-crore Claris Lifesciences Ltd has set up a new company, Xcelris Labs.
“This company will undertake product development work largely for generics from regulated markets like the US and western Europe. We have already bagged three projects worth $ 3 million from European pharma companies,” said Xcelris director Krishna Handa.
In the first phase, Claris will invest Rs 10 crore in this wholly-owned subsidiary which will be able to
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handle about 60 projects at a time. Out of the 150 people to be employed at Xcelris, around 100 will be scientists who will do the product development and analysis work.
In the first year of operations we have set a target of taking up 25 projects. The size of the projects would range from a minimum of halfa-million dollars and could go up to $ 5 million,” said Claris director Chetan Majumdar.
The global healthcare outsourcing market size is estimated to be worth about $ 220 billion. So, the potential for Indian companies to tap this market is huge.
As Claris already has a strong marketing network spread over 60 countries, bagging projects will not be a problem. The new molecule research requires a much bigger set-up. So, initially, Xcelris will do research for generics, that is products which are off-patents. India has a significant cost advantage for undertaking contract research.
The new company will undertake product development, regulatory support, bioequivalence studies & clinical trials, contract research & development, and customised solutions. “We may also take up clinical trial projects also, but for this we will have to tie up with some hospitals as we do not have this facility,” Handa said.
Claris has developed a strong global presence in the injectibles critical care segment. Xcelris will also focus on this segment as competition is less and margins are also higher.
Partnerships are the key to Xcelris’ success. Xcelris engages itself closely with its partners to identify their requirements and prepares a plan to assist in all stages of a project. It understands its partners’ requirements of quality output managed within estimated timelines and resources and relies on its continuous project management skills to continuously monitor its projects and update its clients on a regular basis.
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