Novotech Receives “Highly Commended” in NSW Premier’s 2005
November 2, 2005 by admin
Filed under Company News, Company News 2005
Nov 2, 2005 – Sydney, Australia — Novotech, Australia’s leading contract research organization (CRO), today announced that it has been awarded an “Highly Commended’ accolade in the prestigious NWS Premier’s 2005 Exporter of the Year Awards.
Novotech CEO Alek Safarian, who attended the award’s ceremony, said he was very pleased to represent NSW and Australian life sciences services companies in the awards, and hoped more would be joining Novotech in demonstrating export successes.
The Awards are part of the Australian Export Awards which are conducted annually by Austrade and the Australian Chamber of Commerce and Industry [ACCI] with partners in each state including Australian Institute of Export in NSW.
The program recognizes excellence in exporting by businesses and, now in its forty-first year, it is one of Australia’s most prestigious awards.
“Novotech is very much an export focused company with more than 90% of its clients based overseas. In the past three years, Novotech has worked with more than 35 US and European pharmaceutical and biotech companies,” said Safarian.
“We have offices in the UK and now the US and single handedly bring millions in export dollars into NSW and Australia.”
Safarian said: Novotech sees the US as a prime market and it actively taking its share of the tens of millions of dollars in drug development clinical trials.
“We are seeing an increased demand for trials from the US biotech sector,” he said.
Novotech recently established its US office in California to leverage off its well established US client base.
Clinical research trials in Australia can begin in as little as 2-3 months from the initiation of the approval process and cost up to 30% less than comparable Western countries such as the U.S. and Europe.
“Many companies are now finding Australia, and so Novotech, an ideal option for high quality, timely and cost effective trials.”
About Novotech – Unsurpassed Local Knowledge and Network:
Increasingly, U.S. companies are turning to Australia to expedite the pace, and reduce the cost, of clinical trials, while maintaining the high standard of research that U.S. authorities demand. A 2001 Ernst and Young benchmarking study found that clinical research costs may be as much as 30 percent lower in Australia than in the United States and Europe.
In addition, Australian regulatory procedures often enable a trial to begin in as little as 2-3 months from the initiation of the approval process. This compares favorably to usual timelines in major Western countries.
As the largest independent CRO in Australia, Novotech offers a level of flexibility and local knowledge that is virtually unmatched among other contract research organizations in the region. This has helped Novotech develop a strong client base in the United States and Europe.
Headquartered in Sydney, Novotech is focused on the Australian and New Zealand markets but has worldwide reach through the company’s subsidiary in the United Kingdom and through key external partnerships and strategic alliances in North America and other regions.
