PAC Med Biotech was established by Dr. Avijit Chaudhuri in 2005. The objective of the company at the outset was to provide a full array of partnering services to foreign companies who wished to enter into India with their products. Dr. Chaudhuri believed that the ideal target for this venture would be small to medium-sized companies with an innovative product(s) or service(s).
The business premise for PAC Med Biotech was built on a general fact that many companies either do not have an immediate strategic objective of entering into Asian markets or have resource limitations that constrain international expansion. Dr. Chaudhuri launched PAC Med Biotech to meet those challenges and provide a safe entry portal into India for North American and European technology companies.
During the intervening years, PAC Med Biotech has established a track record of excellence and success in helping foreign companies establish their business operations in India. It has helped companies create their very own presence in the Indian market at a fraction of the price compared to direct entry through a subsidiary setup and without the risk of a JV model.
A wide array of services can be provided to our clients based on their needs, such as contract manufacturing, setting up distribution channels, undertaking clinical trials, arranging market research, coordinating all needed regulatory work and establishing a direct presence through an office and employees, all provided by and contracted to PAC Med Biotech.
In one of its first projects, PAC Med Biotech completed all of the regulatory requirements for its client in record time to pave the way for Indian entry of a cutting-edge obstetric drug.
PAC Med Biotech continues to grow at an impressive pace. During the past few years, a diverse set of international companies has come to depend on the services of PAC Med Biotech. Our clients have gained access to a huge and important new market and at the same time, Indian consumers have benefited from new products and services that would not have been otherwise available.
PAC Med provides a modern office in the Andheri district of Mumbai, one of the most coveted locations in the city for business. In additional, a diverse set of employees can be recruited by PAC Med to provide the needed services to its clients. And finally, PAC Med can work through specialized firms to offer the most complete array of services that can include legal, regulatory, financial, sales, marketing, and various other functions.
PAC Med provides all of these services under its own corporate structure as a turn-key service, thereby ensuring that its foreign client does not have to go through the onerous processes and procedures of business setup and personnel recruitment in India.
Contact us for more details on how we can help you get set up in the booming market that India offers.
India represents an extremely lucrative market for new and innovative technologies in the life sciences and health care sector. The sheer population, now well in excess of one billion, is just one of the factors. It is often said that the top 10% of the Indian population can afford nearly any item so long as the value proposition is sound. Foreign companies therefore have an instant accessible market of over 100 million people for high-end products and an even larger market for more affordable items.
An important aspect of Indian demographics is that the upper economic segment is almost entirely situated in densely populated cities, thereby making the geographic footprint extremely favourable for new product introduction. Furthermore, the steady growth in wealth and prosperity among a broad segment of the Indian population now means that international companies not only have a vast population base to work with, but one that is increasingly demanding the very best and latest developments in cutting-edge products, devices, and services from abroad.
In addition to strong economic and psychosocial factors, recent trends and developments in the political and business climate in India have created an explosive sense of opportunity. The liberalization of the Indian economy along with reforms in business practice, patent protection, and international access now offer foreign companies and their products a more favorable reception than ever before.
PAC Med Biotech operates under a strict code of ethical conduct that governs all of our interactions with foreign clients and Indian partners, as follows.
The management, employees, and contracted parties shall deal on behalf of PAC Med Biotech with utmost professionalism, honesty, integrity, and the highest possible standards at all times. Our conduct shall be fair and transparent and be perceived to be as such by all third parties.
The management, employees, and contracted parties shall ensure that their actions in the conduct of business on behalf of PAC Med Biotech are totally transparent, and yet mindful of the need for business security as required by our foreign clients and Indian partners.
The management, employees, and contracted parties shall at all times ensure compliance with all relevant Indian and international laws and regulations affecting the operations of PAC Med Biotech. In the event that the legal implications are unclear, the course of action chosen shall be supported by legal counsel whose opinion must be documented.
The management, employees, and contracted parties shall ensure that any confidential information gained in their official capacity with PAC Med Biotech is not utilized for personal profit or for the advantage of any other party. The provisions relating to confidential information contained in any contracts or memoranda that relate to a specific business relationship must be strictly adhered to at all times.
The management, employees, and contracted parties shall neither receive nor offer any unofficial payments, remuneration, gifts, donations, or comparable benefits with the intent of obtaining business or uncompetitive favours for any interactions relating to PAC Med Biotech.