Quintiles has clinched the 2015 Frost & Sullivan Asia Pacific Contract Research Organization (CRO) Company of the Year award. Frost & Sullivan selected Quintiles based on its in-depth evaluation of CRO companies' performance in the current Asia Pacific market landscape and its emerging trends.
"Quintiles is the clear market leader in the Asia Pacific CRO landscape," said Rhenu Bhuller, Partner and Senior Vice President, Healthcare, Frost & Sullivan. "Asia Pacific is a strong focus area for multinational CROs and we evaluated the top five on two key factors – 'visionary innovation and performance' and 'customer impact'. Quintiles scored highly in all criteria, and particularly so in 'pioneering best practices' and 'addressing unmet needs'."
"For example, Quintiles launched a dedicated medical devices unit in Asia Pacific in 2015 that leverages the expertise of Novella Clinical, a Quintiles company. It also introduced a custom-tailored set of solutions for Asia Pacific emerging biopharma. Both of these are fast-growing markets and ones in which government and private sectors are trying to build capabilities. Quintiles is well-positioned to support this growth."
Quintiles President and Head of Asia Pacific Anand Tharmaratnam said, "This honor belongs to our 10,000 plus employees across Asia Pacific who work every day to improve our customers' probability of success. I believe Asia is entering a new era – one marked by global leadership in biopharma R&D and by diffusion of Asian innovation to global markets."
"With 60 percent of the world's population, there is tremendous need in Asia Pacific for medicines that will deliver better value and improve patient outcomes. We're very proud to receive this honor in recognition of our efforts to help achieve that."
The Frost & Sullivan Asia Pacific Best Practice awards identify and honor best-in-class companies that demonstrate excellence in their respective industries.
Recipients of the 2015 Frost & Sullivan Asia Pacific Best Practices Awards were identified based on an in-depth research conducted by Frost & Sullivan's analysts. The award categories offered each year are carefully reviewed and evaluated to reflect the current market landscape and include new emerging trends.
The short-listed companies were evaluated on a variety of actual market performance indicators which include revenue growth; market share and growth in market share; leadership in product innovation; marketing strategy and business development strategy.