Quintiles to invest $14 million in Shanghai regional HQ

BY LAURA OLENIACZloleniacz@herald-sun.com; 919-419-6636DURHAM – Durham based-Quintiles is investing $14 million in a regional headquarters in Shanghai to serve its business in China and in nearby Asian countries and is looking to significantly grow its workforce in China by year's end. The company manages clinical trials for pharmaceutical companies, and it also supplies capital as well as consulting and commercialization services for pharmaceutical, biotech and medical device development companies.Quintiles launched operations in China in 1997. It has offices in Beijing, Dalian and Hong Kong, as well as in Shanghai. The company is looking to "significantly" expand its lab testing capabilities in China, according to a recent news release by the company.Through a joint venture agreement, Quintiles will be working with the Shanghai Clinical Research Centre to provide lab testing services to local customers.The Shanghai Clinical Research Centre is a clinical research center in China founded in 2008. It operates as a third-party assessment and resources provider to make drug development more efficient.The collaboration follows last year's launch of Kun Tuo, Quintiles' contract research organization serving China. The organization was launched to help local and global companies get their medicines successfully registered in China. In addition, a $14 million investment in a 43,000-square-foot headquarters in Shanghai is meant to provide infrastructure to back the company's China growth strategy. The headquarters is expected to house more than 450 employees in the next five years, and is expected to be ready by 2013. Phil Bridges, a spokesman for Quintiles, said Quintiles has 350 employees in China. He didn't have any information on how many employees in Shanghai will be new, but he did say the company expects to grow to 600 employees by the end of the year."These investments and agreements demonstrate our commitment to this district and to China," said Ling Zhen, general manager for Quintiles' operations in China, in a prepared statement. "Quintiles recognizes the unique needs of our customers in China. By collaborating with SCRC in labs we can help local and international biopharma companies develop new and better medicines to serve China's enormous unmet medical needs."According to information in an email from Bridges, Asian countries such as Japan, South Korea, China and Taiwan have seen an increase in clinical trials launched in the past two years.The company has seen "very robust demand" for high-quality, low-cost lab work in China, according to the e-mail from Bridges."With the investment of, and support from Quintiles, the SCRC lab will be in an even better position to serve a bigger clientele base and to meet their increase in demand in China," his email states. Read more: The Herald-Sun - Quintiles to invest 14 million in Shanghai regional HQ