The partnership, financial terms of which have not been released, will add ACT’s clinical development and patient recruitment offerings for oncology drug trials to Siro’s existing portfolio of services.
In return, ACT’s US customer base will have access to Siro’s extensive network of Indian and European data management, patient recruitment, biostatistics and distribution services.
Siro’s US president, Patricia Terek, reiterated the projects’ core focus, explaining that the deal “will help meet the growing needs of our oncology customers to have access to operational capabilities in North America.”
Siro, which is India’s largest integrated clinical trials organisation, entered the US market in July 2007 through its acquisition of contract research organisation (CRO) Global Client Partners.
The firm also has operations in Germany, Greece, Estonia and Israel, that it bought as part of its takeover of Offenbach-based firm Omega Mediation in 2008.
Siro to Invest in India?
While the ACT partnership clearly shows the value Siro places on the US market, recent comments by shareholder 3i India suggest that the Mumbai group plans to further strengthen its position in its home territory.
3i India’s Mahesh Chhabria told Livemint that: “ We are currently looking at several proposals for comparatively large investments in the country’s pharmaceuticals, medical devices manufacturing, and health care and laboratory services industries, including large and medium hospital groups.”
Chhabria explained that two of the options under consideration are acquisitions by Siro in India, but said that no move would be made until the integration of Omega is completed later this year.