ReSearch Pharma eyes China expansion with Paramax acquisition
31 March 2009
ReSearch Pharmaceutical Services, the American outsourcing company that works with the bio-pharmaceutical industry, has agreed a deal to buy clinical research organisation, Paramax International Inc.
Buying Paramax should give ReSearch Pharma expanded capabilities in the Asian market and complement its current operations in the Americas and Europe.
Paramax is based in Beijing with an operations office in Shanghai, and will serve as the company's Asian base of operations as it continues its planned expansion across Asia.
ReSearch Pharma is paying a total of $1.0 million in cash and shares for the business.
Chief executive Dan Perlman, said: “The acquisition of Paramax will be a key event in the expansion of our existing operations for providing globally integrated clinical research services.”
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