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June 21, 2007
Ten years after it launched its first office in Japan, contract research organization (CRO) Parexel announced a new office in Hyderabad, India. A city of 8 million in the heart of the subcontinent, Hyderabad is the sixth largest in India and a leading center for IT and biotechnology. “Our foray into India, we started four or five years ago,” says Josef von Rickenbach, the company’s chairman and CEO. He met a few trade journalists at the 2007 annual meeting of the Drug Information Association (DIA). During the meeting, the Waltham, Mass. company celebrated its 25th anniversary. A co-founder, von Rickenbach noted that the company had expanded its ownership of a joint venture with India’s Synchron. That entity does Phase II-III studies in India. India’s recent efforts to make itself more attractive to industry were one factor in the U.S. company’s decision, von Rickenbach said. “The regulatory environment was not conducive to…more...