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The company says that in general, the contract research business in Malaysia is growing, especially for the region’s growing nutraceuticals market.
Contract research organization Vedic Lifesciences (Redwood Shores, CA) announced plans to establish an operational base in Malaysia for human clinical studies on nutraceutical products. The company says that in general, the contract research business in Malaysia is growing, especially for the region’s growing nutraceuticals market.
The company says that in the last few years, Malaysia has experienced significant growth in the number of clinical studies performed in the area on nutraceutical products in particular. “Since 2009, 235 clinical trials have been registered on clinicaltrials.gov registry to be conducted in Malaysia, and 13 out of them were on nutraceutical products.”
It adds, “Southeast Asia has emerged as a hub to conduct cost-effective clinical studies with Good Clinical Practice (GPC) trained physicians who have access to a vast pool of genetically, culturally, and socioeconomically diverse patient population.”
The company says that establishing a research base in Malaysia will also see the development of an “audited investigators’ database in Malaysia for human clinical studies on nutraceutical products.”
“The proximity of Malaysia to India, and our past experience of working with Malaysian nutraceutical clients, has promoted us to make this strategic move,” says Vedic’s CEO Jayesh Chaudhary. The company also plans to add sites in other Southeast Asian countries like China and Singapore by the third financial quarter of this year, he adds.
Meanwhile, the nutraceuticals market in Malaysia is growing. The company says that the market was valued at $165 million in 2010, with a compound annual growth rate of approximately 15%.