Accutest Research Laboratories, a global Contract Research Organisation (CRO) headquartered in Navi Mumbai, India, has opened an office and established an operational presence in São Paulo, Brazil, furthering its expansion into Latin America.
Market surveys have indicated that Brazil is one of the fastest-growing pharmaceutical markets globally, owing to its population of more than 200 million, an investment-friendly environment, an effective patent protection regime and a relatively low incidence of counterfeit drugs. Pharmaceutical sales in Brazil are projected to reach US$46bn by 2018, growing at a CAGR of 12%.
Accutest carries out clinical and bioavailability/bioequivalence (BA/BE) studies for submissions in all key regulated markets.
Of its strong regulatory track record of more than 80 accreditations/approvals from global regulatory agencies, 12 are from ANVISA, the regulatory body that oversees the registration, production and sale of drugs in Brazil.
Dr Satish Sawant, Founder and CEO of Accutest said: 'Opening offices in emerging countries to support drug development is a key element of our expansion strategy. We have identified seven emerging countries to develop operational capabilities, and by opening offices in Brazil, Malaysia and Taiwan we have completed our current expansion phase.'
