Novotech debuts clinical trials Risk-Sharing offering

Novotech, Australia's largest contract research organization, has announced the launch of its RiskSharing offering which, it claims, guarantees massive savings on clinical trial costs for US firms in return for drug license rights in Australia and New Zealand.

The comapny, which was this year awarded the "25 CROs to watch" status by market intelligence firm Life Science Insights, part of the IDC group, has been fielding the concept among its US clients over the past few months.

Alek Safarian, Novotech's chief executive, said: "it was well received so we decided to formally launch the service at BIO 2005." He added that "clinical research trials in Australia can begin in as little as two-three months from the initiation of the approval process and cost up to 30% less than comparable western countries such as the USA and in Europe."