Company Watch

Novamed to secure Veeda

Our News Bureau - Mumbai

Novamed a pharmaceutical company headquartered in Shanghai, China, as a part of its commercial model is planning to facilitate clinical development work in China, India and South Africa on behalf of international companies that are not present or focused in these geographies. Meanwhile its partner companies are hoping to capitalise on the cost arbitrage opportunities as well as speed of doing clinical research in India, China and South Africa.

The company is also seeking to secure the services of a professional CRO Veeda clinical Research, which is based in India with offices and facilities in both the UK as well as that of India. As per the proposed agreement it will allow Novamed to seek development projects from Japan, the US and Europe which in turn will be delivered through Novamed's development network in India, China and South Africa.

Commenting on the occasion, Mark Lotter, CEO, Novamed Pharmaceuticals said, "The relationship with Veeda represents an important development in the Novamed development strategy. Leveraging the skills and arbitrage opportunities that India and China offer the international company, will place the two companies in a unique position globally." Adding Apurva Shah, Managing Director, Veeda Clinical Research said, "I am very excited by the opportunity of servicing the new clients. It will allow Veeda to further leverage its offering. Our rich experience in Clinical Develo-pment and Biometrics from Europe and our cost effectiveness and patient recruitment efficiency from India."