Pharm-Olam International Ltd. (POI) has signed three contracts with a total value of $13.4 million. The contracts involve patient recruitment, site selection, project management, biostatistics, monitoring, and regulatory affairs in the therapeutic areas of pain, cardiovascular disease, and ophthalmology.
The trials involve more than 1,000 patients, from sites across Central and Eastern Europe. "Selecting sites outside the U.S. was the logical choice because the large numbers of treatment-naïve patients, lower drop out rates, and lower site and investigator fees for our sponsors," said Iain Gordon, POI’s director of global business development. "We have our own offices in these countries for monitoring studies and to assure protocol compliance while meeting ICH-GCPs guidelines."
"Although 2005 was a record year for Pharm-Olam, we are even more excited about the future. Our expansion in the emerging markets of Southeast Asia, India, and Latin America for clinical trials offers huge potential for continued growth," said Mr. Gordon. "Pharm-Olam’s proven ability to expand rapidly into new global markets is a testimony of our staff’s expertise and dedication."