QPS Announces Continuing Growth in Asia, Hosts 28 Taiwanese Delegates at Delaware Headquarters
NEWARK, Del., June 18, 2019 /PRNewswire/ -- QPS, a global contract research organization (CRO) providing discovery, preclinical and clinical drug development services, today announced continuing growth in Asia, a region that is fast becoming a robust biotech and pharmaceutical research hub. With all eyes on Asia, QPS hosted a 28-member delegation from Taiwan at its headquarters in Delaware to discuss Taiwan's booming biotech market.
"The opportunities in Taiwan continue to drive growth for QPS," said Ben Hsu, Chief Administrative Officer, QPS. "We were honored to host the most influential pharmaceutical and biotech leaders in Taiwan."
According to the Biotechnology and Pharmaceutical Industries Promotion Office (BPIPO), a government organization under the Ministry of Economic Affairs of Taiwan's government, the amount of private investment in Taiwan's biomedical industries has increased steadily and significantly with a CAGR of 7.5 percent. In 2016, the investment amounted to more than USD $1.5 billion, with 38 percent of those investment dollars focused on pharmaceuticals and another 23 percent allocated to applied biotechnology.
By 2025, Taiwan plans to develop and market 20 new drugs. To achieve this goal, the Taiwan Food and Drug Administration (TFDA), Ministry for Health and Welfare, has simplified its First In Human (FIH) regulatory approval process, reducing timelines to just 30 business days.
"The demand for FIH studies is rapidly increasing and there are very few sites around the world that can conduct them. QPS is well-known for its success in FIH studies and we are well established in Taiwan, covering the full complement of lab services and clinical trials management," said Hsu. "QPS in Taiwan has conducted more than 1,800 GLP preclinical studies and 400+ clinical trials for drug candidates, involving more than 49,000 subjects and 1,500 sites; we anticipate continued growth."
Market Research Future (MRFR) predicts the preclinical CRO market in Asia will see significant growth, particularly in the areas of bioanalysis and DMPK studies to accommodate the increased demand for pharmacokinetic services to support toxicology tests for IND-enabling studies.
"Asian biotech companies that plan to keep research and development in Asia, as well as biotech and pharmaceutical companies around the globe that are considering outsourcing to Asia, need to closely scrutinize CRO candidates to ensure the selected partner is equipped with the necessary preclinical expertise and facilities to do the work that enables sponsors to open INDs," said Hsu. "QPS delivers a comprehensive preclinical strategy as the IND submission process is complex and requires several different preclinical studies that all closely align with FDA guidance. We can point to a long list of dossiers we've compiled for US FDA and Taiwan IND submissions."
As the Taiwanese market continues to expand, China has made developing a world-class pharmaceutical business a priority. China-based VC funds are pouring billions into private U.S.-based biotech firms with the goal of bringing drugs to market in Asia and the U.S. simultaneously. Additionally, India has emerged as a leading destination for clinical trials and drug development research.
"Asia now hosts 23.6 percent of the world's pharmaceutical companies. And, many of the thousands of small biotech companies located around the globe are looking to Asia to support their research and development needs," said Hsu. "QPS was an early entrant in the Asian market, and to support the region's rapid growth we've bolstered our presence in Asia with six locations – three in Taiwan, two in China and one in India."
The global outlook for drug development is stronger than ever. "With 11 turnkey facilities across six global regions, QPS is well-positioned to grow as the market expands," said Hsu. "Whether sponsors are looking to outsource drug development research to Asia, Europe or the U.S., QPS has the preclinical expertise and facilities to enable sponsors to open an IND and take drug candidates through Phase II and beyond."
About QPS Holdings, LLC
QPS is a global contract research organization (CRO) providing discovery, preclinical and clinical drug development services since 1995. The company accelerates pharmaceutical breakthroughs across the globe by delivering custom-built research services. An award-winning leader focused on bioanalytics and clinical trials, QPS is known for proven quality standards, technical expertise, a flexible approach to research, client satisfaction and turnkey laboratories and facilities. For more information, visit www.qps.com or email email@example.com.
Tel.: +1 314-534-8187
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