RPS said it will add to current operations in Brazil, Argentina and Chile by expanding into Mexico, Peru and Colombia. Part of the initiative is a new pharmaceutical resource organisation business model to both staff and manage clinical trials, allowing it to exploit growth in both the contract manufacturing and clinical trial markets.
The World Pharmaceutical Report (2007), written by Research & Consultancy Outsourcing Services (RNCOS), states that smaller national markets in Latin America and Asia-Pacific are expected to grow significantly. The contract manufacturing market is predicted to grow 11 per cent to €127bn by 2009.
The report also shows a rapid increase in the clinical trial market. This is partly driven by an emphasis on research and development and an increase in the number of drug deliveries. Current spending on clinical trials in the US is expected to grow an average of 4.6 per cent annually, passing €23bn by 2011.
Daniel Perlman, chairman and chief executive at RPS, said: "Our continued expansion in Latin America will allow us to further develop our global offering for our partners, while adding to the 35% plus growth we have experienced in 2006."