Mumbai: Tata Consultancy Services Ltd (TCS) will implement an off-shore clinical operations service for Novo Nordisk, a leading multinational pharma company in diabetic care.
TCS will provide its extensive domain knowledge and manpower with skill-sets in the pharmaceutical sector to provide a suite of data management services, which include designing, capturing, and coding of trial data gathered from clinical trials that are run by Novo Nordisk across the globe, out of its state-of-the-art BPO facility in Mumbai.
Novo Nordisk is actively working on its outsourcing strategy and already has number of agreements in place in India, in order to select a suitable partner, Novo Nordisk went through a rigorous selection process that involved four top providers in this sector. TCS was selected for its experience in the healthcare domain as well as its project management and quality processes and an ability to provide customers with a comprehensive end-to-end solutions.
"TCS has the ability to understand business processes and structure teams that have the right mix of operational and business professionals," said Milind Kamat, head, of the TCS BPO Services. He added, " Our deep domain knowledge and data management capabilities ensures that Novo can outsource large groups of trials to a single provider in a low employee cost geographic location to enable greater value creation."
According to estimates, the potential market size from outsourcing clinical trial management is expected to be around $1 billion in the next five years. Analysts estimate that by off-shoring part of these activities, the savings potential is in the range of 40 per cent of current costs incurred in capturing data from clinical trials.