Australia: Preferred Destination for Early Phase Clinical Trials

| August 22, 2017

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Pharmaceutical and biotechnology companies are increasingly outsourcing clinical trials to contract research organizations (CROs). In 2015, the global contract CRO market generated USD31.4 billion in revenue, and is forecast to grow at a CAGR of 12.1%, to reach USD56.4 billion by 20201. The growing demand for CROs underscores the importance of outsourcing in drug research and development. Rising research costs coupled with the loss of revenue due to drugs going off patent are leading large bio/pharmaceutical companies to outsource research and development (R&D) activities in a more cost-effective manner.

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The Pharmacells™ Group is a cutting edge medtech and biotech business with a range of world class products, each leading products in their specific areas of science.

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