Indian CRO Vimta Labs completes 1000 clinical trials

Indian clinical research services provider Vimta Labs has completed its 1,000th clinical trial, the company announced.

Vimta Labs is the Indian clinical research organization (CRO) currently favored by many US generic drug manufacturers to perform cost-effective bio-equivalence studies.

Bio-equivalence  studies are performed to test whether a “generic” drug is equivalent to the reference or “branded” version.

“With a highly experienced team of 640 employees, Vimta Labs provides a broad range of drug development services – including clinical trials, analytical, central lab and preclinical services – to pharma and biotech companies globally” said Nageswara Rao, VP-Business Development of Vimta Labs.

Vimta Labs conducts bio equivalence/bioavailability (BE/BA) studies on various dosage forms such as tablets, capsules, extended release preparations, gels, jelly’s, solutions.etc for Pharmaceutical companies in India and abroad. Vimta has a 200 bed facility to conduct BA/BE studies.

Vimta Labs can conduct clinical trials in a much shorter timeframe than US based CROs, and that too for about 50% less than what it can cost abroad.

Vimta has been audited multiple times by the US FDA for compliance to GCP and GLP, the statement said.

Driven by the growing need for trials in patients, Vimta Labs has recently partnered with a number of super specialty hospitals in India to offer clinical end-point studies as well as Phase-II and III trials, said Mr. Rao.

“Vimta Labs is clearly the leader in this field” said Jim Worrell, CEO of Pharma Services Network of Charlotte. “They are providing critical services to many of the top generic drug manufacturers in the USA and around the world. We congratulate Vimta on reaching 1,000 completed studies.” Pharma Services Network represents Vimta Labs in North American market.

Pharma Services Network is a business development company working on behalf of international research organizations, helping them build strong business relationships with US pharmaceutical and biotech companies.

India is increasingly becoming the location-of-choice for many pharmaceutical and biotech companies looking for easy access to patients and low-cost clinical research.

Hyderabad-based Vimta Lab recently announced its financial results for the period 2008-09. Vimta Labs posted gross revenue of Rs 8173.07 lakhs as against Rs 7889.50 lakhs in the corresponding period a year ago. Earnings before interests, taxes, depreciation and amortization (EBITDA) for the year were Rs 2401.46 lakhs as compared to the previous year earnings of Rs 2771.80 lakhs. Net profit after tax stood at Rs 404.43 lakhs as against Rs 624.56 lakhs in the previous year.