Novotech's innovative full-service approach
accelerates clinical development with advanced analytics, diverse
global patient access, and specialized technology.
SAN
ANTONIO, Oct. 14, 2024 /PRNewswire/ -- Frost &
Sullivan recently conducted an in-depth analysis of the biotech
contract research organization (CRO) industry and based on its
findings, has awarded Novotech the 2024 Global Company of the Year
Award. As a leading global full-service CRO with over 25 years of
experience, Novotech specializes in providing comprehensive early-
to late-phase clinical development services tailored to biotech
companies.
Novotech enables biotech companies to navigate the complex
global regulatory landscape by leveraging its extensive expertise
in local regulations and deep understanding of cultural nuances.
With 34 office locations across the
United States, Europe, and
the Asia-Pacific region—including
Australia, China, India,
Malaysia, New Zealand, and Thailand—Novotech's global
presence ensures that biotech firms receive tailored solutions that
meet their unique needs. Additionally, Novotech distinguishes
itself by providing access to diverse patient populations and
accelerating recruitment timelines, significantly enhancing the
efficiency and effectiveness of clinical trials.
Novotech is known for its customer-centric approach and
proactive problem-solving strategies. The company employs a project
manager-centric model, where dedicated and highly skilled project
managers assume full ownership of clinical trials, ensuring
seamless communication and efficient project execution. This model
enhances the overall customer experience and fosters strong,
collaborative client relationships. Additionally, through strategic
partnerships and the integration of advanced technologies,
including eClinical solutions and bioanalytical services, Novotech
is firmly positioned as a leader in the biotech CRO market.
"Overall, Novotech distinguishes itself in the ever-expanding
CRO market by successfully addressing the complex regulatory
landscape with a deep understanding of local regulations and
overcoming cultural barriers to establish itself as a truly global
CRO. As a result, the company progresses closer to becoming a
preferred global partner with regional leadership and localized
expertise," said Unmesh Lal, Global
Research Director at Frost & Sullivan.
Novotech remains at the forefront of leveraging advanced
technologies to revolutionize the clinical research landscape,
driving greater trial efficiency and effectiveness. The company's
continuous investments in artificial intelligence (AI), big data
and advanced analytics, digital clinical trials, and cloud-based
software platforms have significantly elevated its clinical
research capabilities. For instance, through its long-standing
partnership with Veeva, Novotech enhances its biotech clients' drug
development programs by streamlining processes, improving data
visibility, and providing advanced trial planning and predictive
capabilities.
In parallel with its technological advancements, Novotech's
comprehensive bioanalytical services portfolio significantly
enhances clinical trial efficiency. The company operates
state-of-the-art central laboratories equipped with cutting-edge
technologies, such as liquid chromatography-mass spectrometry
(LC-MS). Located in key regions, including China and South
Korea, these facilities process thousands of samples each
month, supporting bioavailability, bioequivalence, and
pharmacokinetic assessments. This robust infrastructure ensures
that Novotech delivers precise and reliable data, thereby
accelerating the drug development process for its expanding client
base.
"Novotech continually invests in cutting-edge technology,
including piloting a range of AI-enabled approaches, significantly
expediting study timelines. In macro terms, Novotech increased the
efficiency of some of its processes by a remarkable 10 to 20% in
2023, which in turn translates to increased speed for its biotech
clients," noted Sama Suwal, Best
Practices Research Analyst.
Each year, Frost & Sullivan presents a Company of the Year
award to the organization that demonstrates excellence, in terms of
growth strategy and implementation in its field. The award
recognizes a high degree of innovation with products and
technologies and the resulting leadership, in terms of customer
value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies
in various regional and global markets for demonstrating
outstanding achievement and superior performance in leadership,
technological innovation, customer service, and strategic product
development. Industry analysts compare market participants and
measure performance through in-depth interviews, analyses, and
extensive secondary research to identify best practices in the
industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned
for its role in helping investors, corporate leaders, and
governments navigate economic changes and identify disruptive
technologies, Mega Trends, new business models, and companies to
action, resulting in a continuous flow of growth opportunities to
drive future success. Contact us: Start the discussion.
Contact:
Tarini Singh
P: +91- 9953764546
E: Tarini.Singh@frost.com
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