Phase Forward to set up local unit

HYDERABAD: Nasdaq-listed Phase Forward plans to set up a wholly owned domestic subsidiary that will be located at the Hyderabad operations of IT services company Virtusa Corporation.

The two companies have an existing relationship: Phase Forward outsources its IT needs to the Hyderabad-based company.

The US-based Phase Forward was present in the Indian market for the past seven years, working with several partners and sponsors to support hosted clinical trials.

Now in expansion mode, Phase Forward will leverage its highly successful model of staffing global projects with in-country and external resources, Steve Powell, SVP worldwide sales, said while announcing the formation of the company’s domestic unit.

“The formation of the Indian unit is a natural extension of our long-established strategy to give our customers access to the most advantageous and cost-effective mix of offshore and onshore resources available,” he added.

“India is also a high-growth area for biopharma services. We wanted to expand in the region and add more employees,” he said.

Talking about the expansion of the partnership, Shantanu Paul, general manager and head of global delivery operations, Virtusa, said this would help the company gain requisite experience given the fact that it was looking up its own pharmaceutical practice.