The need for setting up this unique clinical research services company arose in order to fill the void and also on the backward integration policy of Reliance, a Reliance spokesperson said.
RCRS was recently formed as a clinical research organisation (CRO) to focus on providing services to all pharmaceutical, biotechnology and medical device companies globally in all therapeutic areas.
According to industry sources, currently about 80 government and privately owned Indian hospitals are engaged in global and local clinical trials. Observers predict that this figure will increase exponentially in India to an estimated 14,000 hospitals, 5 lakh doctors, 7,00,000 beds, 162 medical colleges and 17,000 medical graduates per year. The total market value of clinical research undertaken in India is estimated to be over $100 million.
The Reliance spokesperson added that RCRS is a part of the larger life sciences initiative of the Reliance group of which RLS is also a client. Commenting on the new vehicle to commercialise RLS basic research, the spokesperson stated, Major part of the work being done in RLS can only be commercialised, once preclinical and clinical studies are done for global submission.
Though the areas of basic research conducted by RLS could not be ascertained, the spokesperson said that it encompasses all areas.
Apart from the HN hospital in Mumbai, the company is also exploring options of involving the Dhirubhai Ambani Hospital at Patalganga for clinical research initiatives.
It will also conduct clinical trials in hospitals all over the country that have a suitable trained staff, necessary infrastructure and an ethical committee compliant to ICMR guidelines, he added.