China’s first joint venture CRO established

2008-01-09 Shanghai

China’s Rundo International Clinical Research Co., Ltd. and Japan-based CRONOVA recently announced the formation of a joint venture contract research organization (CRO) in Shanghai, China on 19 December, 2007. Rundo holds a 65 per cent stake in the new company and CRONOVA takes the remaining 35 per cent. The newly established company is the first ever joint venture CRO in China.

Rundo International Clinical Research Co., Ltd., a Shanghai-based CRO company mainly specializing in clinical research, has achieved strong brand recognition with cooperation with such well-known multinational companies as Novartis, Bayer, Takeda and Abbott.

CRONOVA, a leading Japanese CRO, owns four divisions which are engaged in multiple services including CRO, site management organization, contract sales organization as well as data management and statistics.

Since its foundation, Rundo has been actively making efforts to strengthen communications and exchanges between the Chinese and Japanese pharmaceutical sectors. The company reached into a joint venture agreement with CRONOVA in the process of jointly stepping up Sino-Japanese ties in the pharmaceutical area. Both companies have strength in resources and channels in their respective countries, and are pioneers in clinical research, data management and statistics, medical training and support, as well as product licensing.

After the establishment of the joint venture, Rundo and CRONOVA will set up two or three additional subsidiaries or divisions in China’s major cities by the end of 2008, and bring in effective standard operating procedures and other advanced hardware and software facilities from Japan to expand the Chinese market.

The pharmaceutical R&D outsourcing market has been growing at a rapid pace worldwide, especially in China, in recently years, which is expected to create great opportunities and challenges for CRO companies.