CRO KCR Acquires Clinical Portfolio From Ukrainian CRO AXIS
By Cyndi Root
KCR, a contract research organization (CRO), has acquired the clinical portfolio of AXIS Group, a Ukrainian CRO. The company announced the deal in a press release, stating that the acquisition broadens KCR’s presence in Europe and the Ukraine. The companies did not release details on the deal or the financial terms. Mike Jagielski, President & CEO of KCR, said, "Ukraine, being the second most populated country in the CIS (Commonwealth of Independent States) region, presents a favorable market for conducting clinical studies."
KCR focuses on attracting foreign companies to Europe and to the Ukraine to start clinical studies. KCR has been operating in the Ukraine since 2007, registering a subsidiary in Kyiv. The company currently has 40 employees providing CRO services for pharmaceutical companies. Tetyana Byelyayeva, General Manager for Ukraine and Georgia at KCR, stated that the Ukraine has a well-developed system of medical institutions, universities, and clinical sites. She also said that the political situation does not affect trial recruitment, projects, or regulatory submissions.
KCR states that Ukrainian authorities have been supportive in making the country a strategic choice for pharmaceutical development.
Recently, the European Bank for Reconstruction and Development (EBRD) and pharmaceutical companies convened in Kiev to talk about the industry. The EBRD reported the progress in an article posted in December 2014. The EBRD states that the sector needs financing and reform, but Ukraine is poised to grow. Many manufacturers in Ukraine comply with Good Manufacturing Practice (GMP) standards and could supply generic medicines. The EBRD has invested €95 million in Ukraine, loaned €8.5 million to Farmak, and is considering two more projects worth €15 million. The agency is offering credit lines to support the manufacturing sector and is investing in companies that produce original pharmaceuticals.
Florence Bachelard-Bakal, the EBRD’s Head of Manufacturing and Services for the Ukraine, said, “At the EBRD, we set ourselves three tasks in the sector: to help pharma companies reach international industry practices; to help them with energy efficiency improvements; and of course to support the industry with long term funds, which are essential for capital expenditure and innovative product development.”