SOMERSET, N.J., and MUMBAI, India, Jan. 3 /PRNewswire-FirstCall/ -- Ventiv Health, Inc.'s Ventiv Clinical Services division and SIRO Clinpharm Pvt. Ltd., India's largest domestic contract research organization (CRO), announced today the formation of Ventiv-SIRO (India), an exclusive joint venture offering drug companies India-based clinical data management services.
The Ventiv-SIRO (India) joint venture brings together Ventiv's broad statistical analysis and data management services and premier client portfolio with SIRO's strength conducting large-scale Phase II-IV clinical trial data management projects. Ventiv-SIRO (India) will provide pharmaceutical and biotech companies access to a broad pool of outsourced offshore talent who will design databases, conduct data and statistical analysis and analyze medical images and scans.
Dr. Dilip Mehta, M.D., Ph.D., Senior Advisor to Ventiv-SIRO (India) and the former head of U.S. clinical research for Pfizer Central Research, commented: "The challenge for drug makers to optimize quality, time and resources across their numerous clinical studies has never been greater. From my experience building Pfizer's clinical research capabilities around the world, I've seen how India is playing an increasingly important role in keeping pharmaceutical research costs down while utilizing the country's top-tier talent. The Ventiv-SIRO (India) joint venture brings together two highly-experienced organizations that can support the clinical data management needs and enhance the productivity of pharmaceutical company R&D programs."
"The joint venture broadens our capabilities, allowing us to deliver high-quality clinical research and statistical analysis services both domestically and now offshore through this joint venture with SIRO, the premier India-based CRO," said Michael Hlinak, president, Ventiv Clinical Solutions. "Just as the high-tech industry has looked to India to support many areas of its business in recent years, we will offer our pharmaceutical and biotechnology clients an alternative, cost-effective means for analyzing clinical trial data."
"SIRO has steadily built its reputation as a key opinion leader and service provider in the contract research industry. Partnering with Ventiv and accessing its broad client base will offer us significant opportunities to provide high-quality, cost-effective, India-based talent and services to the companies that are researching and developing tomorrow's medicines," said Dr. Gautam Daftary, executive director of SIRO.
About Ventiv Health
Ventiv Health, Inc. is the leading provider of commercialization services to the global pharmaceutical and lifesciences industries. Ventiv delivers its customized clinical, sales, marketing and communications services through its three core business segments: Commercial Services, Clinical Services and Communications Services. Ventiv's 4,600 employees support over 150 client organizations, including 18 of the Top 20 global pharmaceutical companies as well as emerging and specialty biotech leaders. For more information on Ventiv Health, Inc. visit http://www.ventiv.com/.
About SIRO Clinpharm
SIRO Clinpharm Pvt. Ltd. is a leading full-service contract Clinical Research Organization (CRO) providing clinical development solutions to support Phase I - IV clinical trials in India. With all its operations based in Mumbai, the commercial nerve-center of India, SIRO employs more than 200 professionals, who cater to the development needs of its biotech and pharmaceutical clients based in the US and European Union. Armed with strong clinical data management, biometrics and clinical project management capabilities, SIRO is successfully managing contracts for some of the leading global pharmaceutical companies. In October 2005, SIRO was selected from among 60 companies as the 2005 winner of Proximare's "Best Indian CRO Award" in Clinical Research (Phase I - IV). For more information on SIRO Clinpharm visit http://www.siroindia.com/.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause Ventiv Health's performance to differ materially. Such risks include, without limitation: changes in trends in the pharmaceutical industry or in pharmaceutical outsourcing; our ability to compete successfully with other services in the market; our ability to maintain large client contracts or to enter into new contracts; uncertainties related to future incentive payments; and, our ability to operate successfully in new lines of business. Readers of this press release are referred to documents filed from time to time by Ventiv Health Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
