According to Tigermed, this new strategic alliance is expected to help it to provide more extensive and comprehensive outsourcing clinical service for multinational pharmaceutical corporations and local research institutions in the R&D of innovative drugs. Also, OCT and LSK plan to establish an international customer base through Tigermed’s established profile and capabilities in developing new pharmaceutical products.
OCT, headquartered in Saint Petersburg, is a Russian contract research organization (CRO) dedicated to clinical studies in Russia, Ukraine and other eastern European countries. This strategic alliance with OCT facilitates Tigermed’s expansion into these countries, and provides registration and clinical research services for Chinese pharmaceutical enterprises that have plans to enter into eastern European markets.
LSK, headquartered in Seoul, is based in Korea providing all stages of clinical research services in Korea, Japan, Taiwan and Malaysia. The strategic partnership with LSK enables Tigermed to extend its service capabilities into the Asia-Pacific. Tigermed will now be able to provide complete regulatory and clinical research services to pharmaceutical companies interested in the wider Asian market.
Cao Xiaochun, vice president of Tigermed, said: “By forming these strategic alliances, Tigermed takes the pioneering position in exploring business potential and achieving breakthroughs in global service capabilities through cross-border cooperation, which is a significant move for China’s CROs. Strategic collaboration is one of our important tactics to expand global business, and this type of partnering becomes an essential part of our international strategy.”