Philadelphia, PA (PressExposure) April 13, 2012 -- India, with the world's largest pool of clinically ill patients, has more than 500,000 English-speaking doctors, many trained in the United States or the United Kingdom.
India has experienced sustained growth in commercial clinical trials, and will soon become the world's third largest prescription drug market, with its market expected to double by 2013.
What you should know about clinical trials in India:
* In 2009, companies conducted 448 studies in India, with 492 studies in 2010.
* A standard drug in the United States can cost about $150 million; India can offer the same trial at 60 percent of the cost.
* According to TTC's data the cost of studies in India has increased by 3.27% when measured on a Clinical Project Process (CPP) basis, and by 3.11% when measured on a Cost per Visit (CPV) basis.
* India has many precise start-up and supply costs, such as: broadband Internet, cellular card, payment, telephone line, cupboard for storage of documents and lab kits, refrigerator, fax machine, air conditioning, computer.
* Overhead costs in India are comparable to those in Western countries, in the range of 15 to 25%.
* Contracts for clinical trial sites in India still require negotiations based on CPV, line item considerations, and CPV prices for investigator, coordinator, and patient stipend. Also, study coordinators can be salaried, and often the sponsor does not have to pay radiology costs because they are already covered.
For additional information contact TTC, LLC at 215-243-4103
Harold Glass (TTC Principal):
Clearly, India is a burgeoning region for clinical trials and represents what some have called "the industry's single biggest opportunity for growth." Yet understanding how to tap this market will take a full understanding of how the India clinical market works and how they approach budgeting and negotiating clinical trial contracts. And that's precisely where TTC can help. We offer clients our widely accepted cost management tools. We help them develop new, state-of- the-art products and have a proven customer focus to help pharmaceuticals manage both the costs and speed of drug development.
About GrantPlan® and TTC, LLC
GrantPlan®, a product of TTC, LLC, is the largest database of current clinical investigator budgets. With five distinctive database products, TTC has the largest current database of investigator site budgets from 60 countries. TTC combines a strong financial base, a global reach, and an experienced team of customer-focused professionals proud to serve the industry in managing costs and expeditingClinical Trials. GrantPlan® contains extensive cost data at the Procedure, Cost per Visit, and Cost per Patient levels from countries involved in drug testing throughout North America, Europe, Asia and Latin America. For more information please visit www.ttc-llc.com [www.ttc-llc.com] or call us at 215.243.4103.