iMEDGlobal Corp. is investing $3 million for the development of its local operations as a center of excellence, further enhancing service levels in clinical operations, data management, product safety, regulatory services, and life science related information technology solutions.
“The investment goes into building state-of-the-art facilities and processes in the Bonifacio Global City, and but most importantly the growing of people base of medical doctors, registered nurses, and pharmacists,” Prashanth Visweswaran, founder, chairman and chief executive of iMEDGlobal Corp. said during a media roundtable in Makati City on Tuesday.
“As of now iMEDGlobal has 65 people in Manila, which started operations January this year, and plans to grow to have at least 100 people by the end of this year but can grow much more than that next year,” Visweswaran said. The contract research organization serves some of the world’s top brands in pharmaceuticals, healthcare, and cosmetics out of its Manila office, which is also the Asia-Pacific regional hub of iMEDGlobal operations. The Philippine office covers clients in Singapore, Thailand, Indonesia, Taiwan, Korea, UK, and the US.
The company has approximately 200 employees worldwide with 25 in the US, 110 in India, and 65 in the Philippines.
Contract research, estimated to be a $35-40 billion market worldwide, involves clinical trial management, pharma/cosmetic vigilance, and clinical research development for the pharmaceutical and life sciences industries. While these companies can conduct clinical trials and research internally, the industry has grown by offering specific medical and technical expertise on an outsourced basis.
“What makes iMEDGlobal a preferred, differentiated provider is what we add to those services. As just one example, we’ve maintained 99.998 percent quality on our deliverables for the last 56,000 cases that we’ve managed. Many companies claim to be innovative, but we can showcase our innovation with case study, example after example, of how we’ve tackled problems from late-phase clinical development to post-market reformulations, and everything in-between,” Visweswaran said.
The company said it chose the Philippines specifically for its highly skilled population and investor-friendly government. Not only is the English language pervasive, the knowledge workers necessary for the job are also available. “We are in a very specialized industry and our employees’ experience is inherent to our ability to provide innovative, custom solutions. A typical employee has a background in life sciences, biosciences, medicine or pharmaceuticals. They hold degrees from distinguished universities, and are doctors, have master’s degrees or have pursued their PhD,” he said.
iMEDGlobal counts two of the top five global pharmaceutical and consumer healthcare companies as clients, served from across its global network. “We also cater to the local pharmaceutical and cosmetic companies in Manila. There is a strong push on regulations in the consumer/cosmetic and pharmaceutical markets by the Food and Drug Administration in the Philippines. More and more companies in the Philippines will need help from organizations like iMEDGlobal,” he added.
Besides the Philippines, iMEDGlobal maintains operations in India and the UK, and is headquartered in Princeton, New Jersey, US. The company will target Latin America as its next area of expansion. “Our vision was not to be a US/India model, rather, to cater to the worldwide client. Being a truly global provider means that we provide full time zone coverage, non-stop regulatory coverage, and effortlessly manage local nuances like languages, local expertise and business execution. We give our clients the impetus to get their products to market faster,” said Visweswaran.
iMEDGlobal provides consulting, services and technology solutions in Regulatory Affairs, Clinical Research, Data Management, Drug Safety and IT.