Novotech Secures Consecutive Frost & Sullivan CRO Company of the Year Award
BOSTON, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Novotech, the leading Asia Pacific centred biotech CRO with global execution capabilities, has been selected as the CRO Company of the Year 2023 by growth advisory and opportunity analytics firm Frost & Sullivan. Novotech has been a recipient of the Frost & Sullivan Best Practices awards since 2006.
Novotech’s Vice President, Clinical Services Dr. Yooni Kim will accept the award on behalf of Novotech at the award ceremony on November 8, 2023 in Kuala Lumpur, Malaysia.
David Frigstad, Chairman, Frost & Sullivan said Novotech is at the “forefront of innovation and growth and has consolidated their leadership position by innovating and creating new solutions and services that meet ever-evolving customer needs.”
Dr. John Moller, CEO of Novotech, expressed his gratitude for this recognition, attributing the company's success to its dedicated global team of clinical trial experts. “To be consistently recognised for CRO excellence by leading industry analyst organization Frost & Sullivan further demonstrates our position in the sector as a trusted partner for biopharma,” said Dr. Moller.
Dr. Moller further stated, “The Frost & Sullivan research underscores the pivotal role of Novotech's client engagement strategy, which involves identifying unique challenges and delivering innovative solutions that propel drug development programs forward."
Frost & Sullivan Best Practices Research Analyst Azza Fazar commended Novotech's visionary approach to growth strategies, noting its adeptness in addressing emerging challenges and opportunities. She emphasized that Novotech's comprehensive, value chain-centric approach to clinical development support, covering all phases of trials and offering customized services across diverse therapeutic areas, has garnered the trust of numerous biotechnology clients worldwide.
“Against this backdrop, Frost & Sullivan recognizes Novotech as CRO Company of the Year 2023,” she said.
Fazar added, "The company streamlines its processes and procedures to eliminate unnecessary bureaucracy, reporting standard operating procedure reductions of 40%. Novotech’s dedication to customer satisfaction is evident in its client interactions, as indicated by an average engagement rating of 4.7 out of 5 in recent surveys.”
“The company’s comprehensive 360-degree approach to clinical development support, covering all phases of trials and offering tailored services across therapeutic areas, has earned the trust of hundreds of biotechnology clients globally,” she stated.
Novotech has more than 3,000 employees operating across 25 geographies with 34 office locations, including Greater China, South Korea, Australia, New Zealand, the US, and Europe.
The CRO offers biotechs a unique and unparalleled suite of early to late-phase services across the US and Europe, with a foundation in Asia Pacific where the company has built a reputation for delivering high-quality expedited clinical trials.
Recognized for its industry-leading contributions, Novotech has received numerous prestigious awards, including the CRO Leadership Award 2023 and the Best Cell & Gene Therapy CRO 2022 and 2023 awards. Additionally, the company was honored with the Frost & Sullivan Asia-Pacific Contract Research Organization Company of the Year Award in 2022 and 2023. Its commitment to collaboration is evident in the 50 Leading Site Partnership agreements it has signed over the past three years.
