Suzhou, China – September 20, 2024 – OCT, a leading contract research organization in Eastern Europe, is excited to announce its expansion into the Chinese market with the successful registration of its new legal entity, Suzhou OCT Clinical Research Co., Ltd. This strategic move marks a significant step for OCT, solidifying its presence in the dynamic Asian region and opening doors for collaboration with local pharmaceutical businesses and medical institutions.
The new entity, approved by Chinese regulators in September, aims to drive business development and further strengthen OCT’s position within the promising Chinese clinical research market. Russia is a popular destination for Asian pharmaceutical and biotech companies, particularly for research development in areas like Diabetes and Oncology. The country’s cost-effective drug withdrawal on the market options and strong clinical research ecosystem are attracting significant sponsors. In 2022 alone, OCT conducted two large-scale studies in Russia, recruiting a total of 10,000 patients for the Chinese companies Jiangsu Recbio Technology and CanSino Biologics Inc. This growing interest, further fueled by the annual Russia-China Pharmaceutical Cooperation Forum, with the participation of the Ministry of Industry and Trade of the Russian Federation, highlights Russia’s increasing role as a hub for international pharmaceutical research and development.
With its long-term vision for expansion, a local OCT office will facilitate seamless collaboration and workforce management, while also serving as a trusted partner for Chinese companies looking to expand into the Russian market and EAEU region.
To lead this exciting expansion, OCT has appointed Wenhuan Zhang as Business Development Director. Mrs. Zhang will play a pivotal role in establishing strategic partnerships and developing tailored solutions that meet the specific needs of sponsors in China. Her expertise will be instrumental in integrating OCT’s advanced clinical research services with local expertise.
OCT is committed to tailoring its solutions to align with the unique needs of the Chinese market, providing full-service clinical research services in the Russian Federation and EAEU countries to local companies seeking to navigate new Eastern European markets. This commitment to collaboration and localized expertise will be a key driver of OCT’s success in this dynamic and rapidly growing market.
The pharmaceutical sector is experiencing a surge in demand for mutually beneficial partnerships, both among existing partners of “OCT” and across the market as a whole. If you are seeking a reliable partner to expand your business, OCT stands ready to offer assistance and consultations. To explore how we can help you achieve your goals, please contact us at wzhang@oct-cro.com
