PRZOOM - /newswire/ -
London, United Kingdom, 2008/06/05 - Companies look to France as the centre of excellence for medical and pharmaceutical research, since the effective and well-regulated management of clinical trials in specialist hospitals represents a vital stage in developing new treatments.
Companies look to France as the centre of excellence for medical and pharmaceutical research, since the effective and well-regulated management of clinical trials in specialist hospitals represents a vital stage in developing new treatments. Global expenditure on medical and pharmaceutical research was US$15.4 billion in 2006 and it is increasing at a rate of 20% a year.
Clinical trials for pharmaceutical products and other medical diagnostics and therapeutics constitute a high value-added sector that is crucial for these industries before they can launch new products: it is a vital element for the biomedical industry. Clinical trials require cooperation between industry, research laboratories, hospital practitioners and service providers.
“The French pharmaceutical market is the biggest in Europe and the third largest in the world. Its attractiveness is linked to the quality of France’s healthcare system, recognised as one of the best in the world by the World Health Organization, and the French hospital system, which is Number One in Europe,” commented Philippe Favre, President of the Invest in France Agency.
Swiss pharmaceutical laboratory Novartis employs nearly 2,700 people in France, of whom more than 200 are dedicated to international clinical-trial programmes. Expertise in this field comes from several decades of collaboration with hospitals and partners involved with the French health sector.
The quality of the clinical-trial work done in France is what attracted biotechnology company Myosix, a subsidiary of US company Genzyme, which has developed an innovative technique for the growth of adult muscle stem cells.
Alongside prestigious French contract research organisations (CROs) are leading global clinical-trial companies Covance, Parexel, and MDS Pharma. Quintiles of the US, which is Number One in the industry, has 600 staff in France in two locations, with a site in Paris and another one in Strasbourg.
The creation last year of CeNGEPS (Centre National de Gestion des Essais des Produits de Santé) – the national centre for managing clinical trials, based in Lyons – has a key part to play in maintaining the quality of clinical trials in France.
The French government also supports eight competitiveness clusters dedicated to life sciences. These competitiveness clusters bring companies and academic institutions together to work in a climate of innovation. In addition, the pharmaceuticals industry benefits from the best R&D tax-credit system in Europe, which reimburses 50% of R&D costs in the first year.
About Invest in France
The Invest in France Agency (IFA) promotes and facilitates international investment in France. The IFA network operates worldwide. IFA works in partnership with regional development agencies to offer international investors business opportunities and customised services all over France.
For more information about this press release, please contact Martin Hedges, Director of Communications at the Invest in France Agency in London: mhedges[.]investinfrance.org