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news.Encorium Group has announced that it has been awarded new business contracts with multiple European and US biopharmaceutical companies that have an aggregate value of approximately $2.5 million.
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The therapeutic areas included in these awards are infectious diseases, immunology/vaccines, cardiovascular diseases, dermatology, and metabolic disorders. Services to be provided include project management, field monitoring, medical monitoring/writing, and oversight of independent data monitoring committees. Revenue recognition for many of these contracts began in the current first quarter with the remainder expected to begin in the second quarter of 2008. Revenue recognition will occur on a proportional performance basis as services are performed on each project.
Kenneth Borow, president of Encorium Group, said: “These contracts with numerous European and US biopharmaceutical companies continue to strengthen Encorium’s experience base across a wide variety of therapeutic areas.”