GVK Bio may exit clinical trials
Beleaguered homegrown contract research organization GVK Biosciences (GVK Bio) is considering putting its clinical trials business on the block, in part or full, if market buzz is to be believed.
According to people familiar with the development, the company is already in parleys to sell the business, which accounts for just 10% of its revenues. But the company’s image was tarnished following European drug regulators’ allegations that exit ECG data of trial subjects was manipulated at its Hyderabad facility
The buzz comes even as the European Medicines Agency has ordered the largest EU-wide suspension of sales and distribution of around 700 generic drugs (being sold by various global pharma players) for which clinical trials were conducted at GVK Bio with effect from August 21 this year.
