Chinese CROs Geared For Rapid Growth Over Next Few Years

China is seen by contract research organizations as a site for rapid growth over the next few years as they respond to a high research demand by global drug makers. Most of the largest drug makers are now using drug research contractors in China, drawing on their specialized skills, lower-cost scientists and clinical trial costs much lower than in other countries. With many Chinese CROs being independent or small firms, the country has no firm handle on how much revenue that segment of the drug industry makes. An analyst says those specializing in late-stage research should see rapid growth, probably expanding at 18 percent a year to become a $240 million local industry by 2012. (Click here for more