The Hindu Business Line : GVK Biosciences to provide research services for Wyeth Pharma

Though none of the two companies preferred to disclose the exact size of the contract, it is understood that the five-year contract would involve $8-10 million per annum.

Hyderabad , Jan. 13

GVK Biosciences Pvt Ltd and Wyeth Pharmaceuticals have announced that they have entered into a partnership agreement under which the former would provide research services to the latter.

The agreement with Wyeth, involving multi-million dollar investments, requires GVK Bio to establish a dedicated discovery chemistry research site to engage 150 synthetic chemists working exclusively for Wyeth.

The partnership would commence during the current year with 30 chemists at Hyderabad and is expected to grow to a total of 150 by early next year. According to the partners, the collaboration would have an impact on the efficiency and productivity of small molecule drug discovery at Wyeth.

Though none of the two companies preferred to disclose the exact size of the contract, it is understood that the five-year contract would involve $8-10 million per annum.

"This is the first time in India that such a large multi-year contract was awarded for contract research services," a joint press release claimed here on Thursday.

According to the Wyeth Pharma Executive Vice-President and Head of Discovery Research, Mr Frank Walsh, the growing skill base in Asia, India's adoption in 2005 of patent laws conforming to World Trade Organisation provisions, coupled with the high energy and quality of science at GVK Bio, drove the decision to partner with them for contract synthetic chemistry services.

The Chairman of GVK Bio, Mr D.S. Brar, viewed that the collaboration with Wyeth Pharma emphasises and validates the country's emerging capabilities in the contract research services industry.

According to the Chef Executive Officer of GVK Bio, Mr Sanjay Reddy, the alliance with Wyeth Pharma could pave the way for many international companies to look at long-term contracts with Indian contract research organisations.

Stating that the investment in contract research facilities has been an ongoing process at GVK Bio, he told Business Line that the company is currently in the process of estimating the cost for setting up an exclusive and dedicated discovery chemistry research site for Wyeth Pharma.

More Stories on : Alliances & Joint Ventures

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page