Omnicare Expands China Presence

Omnicare Clinical Research, a division of Omnicare (OCR) has opened two offices in China, one in Shanghai and the other in Beijing. Omnicare Clinical Research is a CRO specializing in Phase I to Phase IV trials for biopharma and medical device companies. From its new China offices, the company will offer its services in Project Management, Clinical Trial Services, Regulatory Affairs and Business Development.

Omnicare Clinical Research has had a presence in China since 2001. Its Asia Pacific offices are located in Australia, India, Japan, Singapore and Taiwan. Worldwide, Omnicare Clinical Research has offices in 30 countries.

The parent company, Omnicare, Inc., declares itself to be the leading provider of pharmaceutical care to seniors, selling pharmaceuticals largely to long-term health care facilities such as nursing homes and retirement centers.

The CRO division produced revenues of $48.5 million in the third quarter of 2007, a 20% increase over the year earlier. Operating income for the subsidiary totaled $3.7 million during the period. The CRO revenues were a small piece of the overall operation, because total revenue for Omnicare during the 2007 third quarter was $1.5 billion, on which it earned a profit of $42.6 million.

Disclosure: none.