Parexel Declares India As A Burgeoning Centre For Clinical Trials

Parexel, a global clinical research organisation has said that India is becoming an attractive location for conducting clinical trials. This comes as pharmaceutical and biotech companies from around the world are increasingly choosing to test their potential drugs on Indian patients, according to a senior executive from the company. 

In an interview with a leading media house, Sanjay Vyas, Executive Vice President of Safety and Logistics and Country Head stated that India has risen in the rankings of preferred countries for clinical trials. Previously, if companies wanted to conduct trials in 28 countries, India would typically be ranked 20th. However, India now features among the top 5-10 countries for such trials. 

Vyas mentioned several factors that contribute to India's appeal, particularly for late-stage clinical trials. These include regulatory changes implemented in 2019, which reduced approval timelines by 30-40 per cent. 

Additionally, India benefits from a high prevalence of diseases, a large and diverse patient population, improved medical infrastructure, the availability of investigators, and trial sites in major cities and tier-1 locations. 

Vyas also noted that the current geopolitical environment has led to a shift in clinical trial hubs from countries like Ukraine and Russia to other alternatives, with India being a beneficiary of this change. 

Vyas stated that over the past 18 months, more than 90 new applications were received from global pharmaceutical companies and a few local multinationals, seeking to conduct studies in India. 

To enhance patient convenience, Parexel has been exploring the adoption of decentralised or hybrid trials in India, allowing studies to be conducted remotely. Additionally, the CRO is leveraging real-world evidence and data to assess the potential benefits and risks of drugs, in order to expedite the trials. 

Vyas expressed optimism about the Indian CRO industry, projecting its potential to surpass USD 3 billion within the next five to seven years.

However, he cautioned that a situation of "stagflation" (a combination of high inflation and economic stagnation) in the United States and Europe could have an impact on the Indian clinical trial industry.