GVK Bio hopes to ride out downturn with new brand

Mumbai, July 16, 2014 – GVK Biosciences has rolled out a new brand, Clinogent, that would provide clinical development services such as offering bioequivalence studies for generic pharma and late phase patient-based clinical studies for research-based companies.

Investing through a downturn is what the company is doing, top officials said, even as clinical research in the country is steeped in an environment of “slow decision-making” and litigation.

As innovative and generic drug companies look to develop both small and large molecules, the sentiment is unlikely to stay down forever. As a discovery research organisation, GVK Bio wants to be prepared for that turnaround, offering these services under one roof, said Chief Executive Manni Kantipudi.

The company is morphing from being just a contract vendor to having partnerships with its clients, said Chetan Tamhankar, Senior Vice-President (Clinical Development).

The company has learnt from its earlier alliance with Pfizer, said Kantipudi, responding to a question whether the company strategy was changing from being focussed on one mainstay client to a bouquet of clients.

Pfizer was the biggest customer of GVK Bio’s relationship with Wyeth that shifted to Pfizer after it globally bought out Wyeth. After the contract ran its term out, GVK Bio did not want to be exposed to just one company or geography and has spread itself across markets, he said. Also several biotech companies were coming up then, and the market, too, dictated the company’s strategy, he added.

Clarity needed
But the lack of clarity continues to be an issue preventing the clinical research segment from growing.

Multinational companies are not saying they will not compensate patients (involved in clinical research), he said, replying to a query. They are seeking clarity in the regulations, he added.