US firm sets up lab in Bangalore

Icon Plc, a Nasdaq-listed provider of outsourced development services to pharma, biotech and medical device companies, has opened its Central Laboratories in Bangalore. The company plans to take up studies in lifestyle disorders like cardiovascular, diabetes and anti-infectants.

The company has made an investment of $1 million in Bangalore to set up its third-largest facility after its New York and Dublin laboratories. The facility has a floor area of 14,000 square feet and is located on Hosur Road.

Icon’s Central Laboratories provides lab support and services as an individual vendor or as part of a full service clinical development packages to pharma, biotech companies and compile laboratory data.

Currently, the Central Laboratories world-wide handles clinical studies in cardiovascular, diabetes followed by anti-infectants and cancer, rheumatoid arthritis. Of these, 85 per cent of the business generated is through pharmaceutical companies and the balance is through clinical research organisations.

“In the wake of the economic crisis gripping the world, Icon setting up operations in India is looked up on as cost arbitrage as the costs are at least 60 per cent lower than that in the United States or Europe,” Robert Scott-Edwards, president, Icon Laboratories told Business Standard.

The company has been carrying out operations in data management and clinical research monitoring in India for the last couple of years with an employee base of 380 people in Bangalore, Chennai and New Delhi. Now, to set up full service operations through Central Laboratories, Icon has recruited 20 people and has appointed Dr Anuradha Rajput as its head.

Scott-Edwards said, “Central Laboratories in India will support our Singapore facility.”