Financial Daily from THE HINDU group of publications
Friday, Aug 16, 2002
Financial Daily from THE HINDU group of publications Friday, Aug 16, 2002 |
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Corporate
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New Projects Pharma R&D outsourcing co begins operations Our Bureau
BANGALORE, Aug. 15 A new pharma R&D outsourcing company, Saint Life Bio Pharma Private Ltd, has announced its Indian operations from Bangalore. The company with an investment of $ 6 million (Rs 30 crore) and 100 scientists, would function from its new facility on a 4.5-acre plot at the EPIP near here, said its Founder Chairman, Mr Nidhi Devanur. Globally, pharma companies' R&D outsourcing spends amount to some $ 9 billion, and with cost, time and regulatory pressures on them, there are tremendous opportunities for such outsourcing companies, according to the Saint Life COO, Dr Mike May. Incorporated in May this year in India and as Saint Life Corporation in California, Saint Life plans to be a one-stop shop in Bangalore for outsourced services such as chemical design and synthesis, bioassay and the entire pre-clinical activities through two business verticals, offshore research lab (ORL) and offshore informatics lab. The ORL will be a 35,000 sq.ft. facility, Mr Devanur, who was also a founder member of Ivega Corporation, said.
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