WHITE PAPER

Realizing the Promise

of Asia-Pacific:
The Region’s Strategic Shift from
Outsourcing to Innovation

Dr. Ferzaan Engineer, CEO, Quintiles India, and Dr. Anand Tharmaratnam, Senior Vice President and
Head of Clinical Development, Quintiles Asia-Pacific

EXECUTIVE SUMMARY

Once the exclusive domain of companies located in Western Europe and the United
States, the amount of biopharmaceutical research and development activities
conducted in emerging and non-traditional geographies has seen significant
growth in recent years. As drug makers face an increasingly competitive landscape
and development costs continue to rise, pharmaceutical firms big and small are
seeking every advantage to maximize the value of their R&D efforts. As a result,
many companies have flocked to Asia-Pacific for better access to patients, lower
costs and operational efficiencies.

Yet amidst the massive clinical development work occurring in the region, a thriving
biotechnology sector is driving innovation on its own. With less experience in
traditional biopharmaceutical development, these regional innovators are turning to
research-based partnerships as a way to further advance their portfolios. This paper
discusses the variety of factors that are behind the region’s transformation from a
simple outsourcing destination to a potential hub of true biopharmaceutical
innovation.

cl inica l | com mercia l | consu lting | capita l

Table of Contents

Executive Summary 01

A New Landscape of Opportunity and Investment 03

Expanding Markets, Increasing Power 05

The Changing Nature of Clinical Research 06

Two Giants Lead the Way 07

A More Uniform Approach 09

Linking Ideas and Expertise 10

A New Center of Gravity 10

About the Authors 11

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A New Landscape of Opportunity and Investment
For more than a decade, the emerging markets of the Asia-Pacific region have held special promise
for the global biopharmaceutical industry. Driven by a combination of low per-capita consumption,
rapidly expanding economies, technological innovation and a talented workforce, the region has
seen explosive growth in both economic and political power during the past ten years. Today, China
and India stand on the threshold of global superpower status, while a range of factors – from
deregulation and better trade links, to improved access and the rise of medical tourism – have
enabled markets such as Malaysia, Vietnam, Indonesia and others to take on increasingly important
roles in the region.

From a biopharmaceutical development perspective, such growth has hardly gone unnoticed. In
recent years, a veritable wave of Western companies have set up shop in the entire Asia-Pacific
region and beyond, eager to capture a portion of the region’s comparative advantages in talent
costs, patient pools and disease demographics. Faced with declining R&D productivity, increasing
development costs, decreasing pipelines and lower earnings, these companies are turning to Asia
for greater efficiency, lower costs and increased speed to market in clinical development operations.

In meeting these needs, the region has more than matched its promise as a low cost, higher value
service provider. Yet, as the industry continues to grapple with its challenges, the potential sought
by many Western companies as part of their Asian strategy is changing. Biopharmaceutical
companies are under intense pressure to increase productivity, accelerate timelines and better
manage complexity throughout all phases of the drug development paradigm. In order to operate
effectively in an increasingly competitive economic and commercial landscape, they are searching
for new partners and new strategies to help navigate risks and seize opportunities.

In this regard, Asia as a whole may be poised to assume the mantle of leadership as the strategic
partner of choice for global pharmaceutical companies; a partnership that goes beyond simply
providing patients and data. Today, Asia is gaining the experience and infrastructure needed to
expand its ability to support the global biopharmaceutical industry by performing work and
fostering innovation that moves higher and higher up the biopharmaceutical value chain.

As a result, outsourcing to Asia is shifting from a tactical to a strategic imperative that builds upon
the region’s experience and expertise. As pressure on biopharma’s development pipelines
continues to grow, companies are setting their strategic sights on a future world where Asia is not
just a market and support powerhouse for the industry, but a provider of key contributions to drug
discovery and research innovation as well.

To be sure, the region has yet to develop a completely outsourced drug discovery program that has
progressed from inception to drug candidate, and such an event is likely to remain a few years or
more away. Nevertheless, as the wider global economic balance shifts from West to East, a virtuous
circle is being created that not only enhances Asia’s attractiveness as an outsourcing partner, but
may ultimately change the drug development paradigm in the region and beyond.

This cycle is already beginning to bear fruit. Increasingly, Western biopharma companies are turning
to research-based partnerships as a way of sourcing high-end expertise and building up drug
discovery investment in Asia. For example, in 2008 Bangalore-based clinical researcher Jubilant
Biosys joined with biotech giant Amgen in a collaboration to develop a portfolio of novel drugs in

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new target areas of interest across multiple therapeutic areas.1 And in 2009, Pfizer announced a
joint initiative with the Shanghai Institutes for Biological Sciences (SIBS) to support fundamental
research geared toward drug discovery and development programs in China.2

The impetus for innovation is coming from other sources as well. A mixture of collaborative
research, contract research, outsourcing and co-development is sprouting all over Asia, fueled by
organizations such as CROs that are seeking to enhance revenue streams and expand market
opportunities. India-based biopharma companies such as Dr. Reddy’s that have specialized in
generic drug manufacturing are also seeking to compete in new drug discovery. Many private equity
funds located in the developed world are investing in a range of higher end activities by Asian
biopharma companies.

With such widespread innovation occurring across the region, the possibility exists for Asia-Pacific
to become a prime proving ground for the notion of “virtual drug development,” in which nearly
every step in the development lifecycle is provided by a network of nimble partners. This could
involve partnering with innovative companies or research centers to access intellectual property –
with or even without capital – to develop and commercialize promising drug candidates. A flexible,
global partner could prove to be a valuable ally in such a construct due to its efficient cost structure
and regional focus.

Governments across the region are stepping up, too. The Indian government, for example, has
started offering incentives to domestic and multinational drug makers to encourage new drug
discovery and turn the country into one of the top five pharma innovation hubs by 2020.3 Countries
such as South Korea, Singapore and Malaysia have all identified the biopharmaceutical industry as a
strategic sector worthy of public infrastructure investment and support.

Singapore, for example, continues to attract attention with two flagship R&D centers operated by
the Agency for Science and Technology Research (A*STAR), including Biopolis, opened in 2003 to
develop biomedical sciences, and Fusionopolis, an interdisciplinary research center designed to
bring technology experts from A*STAR and those from the private sector together under one roof.
Singapore has committed to an additional S$13.55 billion (US$9.16 billion) from 2006 through 2010
to transform the city-state into a public and private research and development hotspot. 4 The
government also offers a number of research and development grants that can subsidize up to 50
percent of a company’s capital expenditure, depending on what type of skills and expertise it brings
to Singapore.

1
Jubilant (July 14, 2008). “Jubilant in Drug Discovery Partnership with Amgen Inc, USA.” Press release. Retrieved
2010-02-12. http://www.jubl.com/mycgi/jubl-com/mediacenter.pl?id=171
2
Pfizer (July 29, 2009), “Pfizer Announces Partnership With Shanghai Institutes For Biological Sciences For Drug
Discovery Activities” Press release. Retrieved 2010-02-15. http://mediaroom.pfizer.com/portal/site/pfizer/index.
jsp?ndmViewId=news_view&newsId=20090729005723&newsLang=en
3
The Economic Times (March 2, 2009), “Centre may inject $2 bn/yr into drug research.” Retrieved 2010-02-15. http://
economictimes.indiatimes.com/news/economy/finance/Centre-may-inject-2-bn/yr-into-drug-research/
articleshow/4210074.cms
4
Science/AAAS (March 6, 2009), “Singapore’s Science Bet.” Retrieved 2010-03-02. http://sciencecareers.
sciencemag.org/career_magazine/previous_issues/articles/2009_03_06/science.opms.r0900067

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In Malaysia, innovation and development holds special status as well. The development, testing
and production of biopharmaceutical products are entitled to High Technology Pioneer Status,
which offers significant tax incentives. Malaysia is also a participant to the Agreement on Trade
Related Aspects of Intellectual Property Rights (TRIPS), which helps to protect innovative patents.
To bolster clinical trials, the Clinical Research Centre (CRC) functions as the clinical research arm of
the Ministry of Health to operate a network of 17 centers around the country. CRC serves as a single
point of contact to access all Ministry of Health hospitals and clinics to carry out clinical trials in
Malaysia.5

For its part, South Korea’s biotechnology and pharmaceutical industry has been rapidly growing,
due in no small part to government support. The Korean government has set forth Bio-Vision 2016,
a national plan to promote biotechnology aimed at strengthening the core infrastructure necessary
to develop and commercialize original bio-technologies.6 As a key growth engine for the county, the
Korean biotechnology industry is expected to reach $6.5 billion in 2010, with actively developed
products including hepatitis vaccines, antibiotics, amino acids (particularly lysine) and more
recently, post-genomics related products.7

Expanding Markets, Increasing Power

For this cycle to continue, a range of factors must come to fruition before Asia can meet its promise
as an incubator for drug innovation and discovery. Key countries – particularly China and India –
must address longstanding issues that have undermined progress in the past. Perhaps most
important, stakeholders throughout the region – from pharmaceutical executives to government
regulators to academic leaders and beyond – need to embrace the transition and be ready to align
the region’s growing market power with ever-increasing internal and external demands.

One of the most visible factors is simple economic power. Even after years of torrid growth, many
countries in the region remain poised to continue expanding for the foreseeable future, despite
global economic challenges that could derail some more developed economies. China, for example,
is projected to overtake the United States as early as 2025 to become the world’s largest overall
economy, while India is expected grow to almost 90% of the American market by 2050, according
to estimates by PricewaterhouseCoopers.8

Such growth will be critical as a destination for global biopharmaceutical industry seeking new
commercial markets. Assuming annual growth rates of 10% to 15% in Asia compared to between
5% and 7% a year in G7 countries means China is on track to become the second or third largest
pharmaceutical market in the world by 2020. In addition, India could land in the top 10, while
countries such as Korea, Indonesia, Malaysia and others are projected to see double digit growth in

5
Trade Chakra.com (2009), “Pharmaceutical Industry in Malaysia.” Retrieved 2010-03-02. http://www.tradechakra.
com/economy/malaysia/pharmaceutical-industry-in-malaysia-185.php
6
Biotechnology Journal (2008), “Bio-Vision 2016: The second national framework plan for biotechnology promotion
in Korea.” Retrieved 2010-03-02. http://mbel.kaist.ac.kr/lab/publication/int212.pdf
7
Burrill & Company (2009), “Korea.” Retrieved 2010-03-02. http://international.burrillandco.com/regions-20.html
8
PriceWaterhouseCoopers (2008), “The changing dynamics of pharma outsourcing in Asia: Are you readjusting your
sights?” White paper. Retrieved 2010-01-27

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healthcare expenditures in coming years.9 Not only will the Asia-Pacific market grow to a size of
great significance, but it also affords new opportunities for treating region-specific diseases and
tailoring treatment modalities to local needs.

Regional and Global Biopharma Market

The biopharmaceutical market in the region is expected to grow at 16.4%, which is more than thrice the
corresponding global rate, thereby driving global market share from 9% to 16% over a 5-year period (2009-14).
The two major economies of the region, China and India, will increase their global rankings in the global
biopharmaceutical market to #3 and #10 by 2014 (current rankings are #5 and #14 respectively). The region’s
market will be the world’s third largest (after the U.S. and Western Europe) by 2014, and the second largest by
2018, if predicted growth rates are maintained. These data represent a remarkable market shift from the West to
the East, creating a huge growth opportunity for appropriately positioned providers of goods, services and
intellectual property.

Country Biopharma Market Global Biopharma Market Share

2009 2014 CAGR 2009 2014

India $16 .0B $28 .39B 12 .2% 2% 3%

China $30 .6B $93 .5B 25 .0% 4% 10%

South East Asia $22 .9B $26 .6B 3 .0% 3% 3%

Total (region) $69 .5B $148 .5B 16 . 4% 9% 16%

Amounts in USD billions, CAGR = Compound Annual Growth Rate

SOURCES:
Goldman Sachs: Unites States: Healthcare Services: CRO, December 2007
Frost and Sullivan: Entry Feasibility Study of the China Local CRO Market, August 2008
Ernst & Young: Clinical Services – India Market Assessment, October 2008
Espicom: The Outlook for Pharmaceuticals in South East Asia, 2008
Business Insights: The CRO Market Outlook To 2014 – Emerging markets, leading players and
future trends, August 2009

The Changing Nature of Clinical Research

From a clinical research standpoint, the region remains particularly attractive due to the availability
of large pools of potential patients and motivated investigators for clinical trials. As biopharma
companies work to minimize both time- and cost-to-market, Asia, which accounts for more than
60% of the world’s population, continues to offer significant advantages from a logistical, genetic,
therapeutic and demographic perspective.

As a result, the number of trials throughout the region has skyrocketed in recent years. According to
clinicaltrials.gov, clinical trial studies in the Asian region increased by 67% from 2007 to 2009, with

9
BioSpectrum Asia (Nov. 30, 2009), “SE Asia next big emerging markets for life sciences firms: Report” Retrieved
2010-02-15. http://www.biospectrumasia.com/Content/301109PHL11398.asp

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China and Korea seeing growth of 120% and 155% respectively in the same period.10 Thailand and
Singapore saw a jump of 60%, while Taiwan had the largest number of active clinical trial studies in
2009 with more than 800 ongoing trials.

Although the amount of clinical trial activity in the region looks to be on an upward path for the
foreseeable future, much of the nature and intent of the activity is changing below the surface.
While lower costs are often cited for conducting trials in emerging markets, when talent,
infrastructure and other factors are considered, the overall cost of trials in Asia today can approach
levels found in more established areas.11 As countries throughout the region invest in much-needed
infrastructure, develop greater expertise and identify new opportunities, they continue to attract the
level of technical and leadership talent that erodes the region’s overall cost advantages. As a result,
many Western companies have started to re-examine their assumptions about the region’s up-front
cost advantages by finding value in the reduction of overall development costs from increased
speed-to-market.

Additionally, instead of viewing clinical activity in Asia solely as a means to support drug programs
seeking regulatory approval outside of the region, today regulatory authorities and companies are
starting to train their sights on providing value and data to support unmet needs within the region
itself. Japan, for example, now accepts data from regional trials conducted in countries such as
China, Taiwan and South Korea in an effort to cut approval time, a significant break from the past.
Some multinational pharmaceutical companies are also taking a closer look at aligning clinical trial
activity with Asia-specific opportunities, drawn by the promise of tackling underserved disease
states within the local population.

Two Giants Lead the Way

In order to fully examine the forces driving Asia to develop into a provider of not only outsourced
clinical research but also drug discovery and innovation, it may be helpful to focus on the two
largest countries in the region: China and India.

In many ways, both countries are integrated into the global biopharmaceutical supply chain in ways
difficult to imagine a decade ago. The city of Shanghai, for example, has become a go-to destination
for both a growing local pharmaceutical industry as well as international companies like Roche,
Novartis, Novo Nordisk, GlaxoSmithKline, AstraZeneca and others.

Both countries continue to see their share of late-stage trials grow at a rapid clip. India posted a
35% CAGR in the number of Phase III trials from 2004 to 2008.12 China is expected to see late-stage
research revenues expand by 18% annually before reaching $240 million by 2012.13 According to a
recent survey conducted by Contract Pharma magazine, 35% of the total number of worldwide

10
BioSpectrum Asia (Sep. 17, 2009), “Healthcare infrastructure supports CRO growth in Asia.” Retrieved 2010-02-15.
http://www.biospectrumasia.com/content/280809OTH10467.asp
11
VOI Insight (July 21, 2009), “The Case for Globalization: Ethical and Business Considerations in Clinical Research.”
White paper. Retrieved 2010-01-27
12
Ernst & Young (2009), “Taking wings: Coming of age of the Indian pharmaceutical outsourcing industry.” White
paper. Retrieved 2010-01-29
13
AsiaOne News (Sept. 4, 2009), “China’s drug contractors on a fast-growth track.” Retrieved 2010-02-15. http://
www.asiaone.com/News/Latest%2BNews/Business/Story/A1Story20090904-165580.html

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pharma companies planned on outsourcing projects to Asia in 2009, with China and India the top
two destinations due to market potential and cost-saving opportunities.14

Both countries have distinct comparative advantages that are helping them carve out critical niches
in the world market. Compared to China, India offers some key operational advantages for
conducting trials, including information technology (IT), data management resources and the cost
and speed of patient recruitment.15 Further, the country adds a number of large medical centers
available to conduct trials, a high quality of physicians and trained personnel and a high degree of
English literacy as additional advantages.

For its part, China is benefiting from an overall synthesis of regulatory harmonization, infrastructure
development and a global influx of talent and expertise, all of which is supported – at least in part –
by a state government increasingly in tune with the needs of the industry.

The Chinese government is working hard to reduce the number of days for approvals as it seeks to
develop the capacity and capability for conducting clinical trials in the region. It is also investing
heavily in the kind of infrastructure necessary to foster research and innovation – an issue critical in
a region where interrupted power supplies, antiquated ports and inadequate highways still exist in
many areas.

Nevertheless, China’s GCP standards are still evolving, along with those of India. In late 2009, it
was announced that the Contract Research Organization Union of China (CROU), under the
guidance of the China National Pharmaceutical Technology Market Association, is developing the
first industry standard for the Chinese CRO sector.16 In India, the government is laying the
groundwork for increased oversight of clinical trials and harsher penalties for companies that
violate GCP.17

Both countries are also tackling a further challenge: the need to improve regulatory timelines.
Delays of up to 12 months are not uncommon in China, and despite recent moves to streamline
processes, waits in India may be up to nine months.18 In contrast, approval times in Singapore are
approximately three months.

China has streamlined its regulatory structure in recent years in an attempt to align the country with
international standards of practice, substantially modifying the country’s legal system governing
pharmaceutical research, production and marketing.19 India has also undertaken a range of

14
Contract Pharma (2009), “Annual Outsourcing Survey.” Retrieved 2010-02-15. http://www.contractpharma.com/
download/2009_CP_Outsourcing_Survey.pdf
15
PharmaAsia (June 1, 2008), “Clinical Trials Go Global.” Retrieved 2010-02-15. http://www.pharmaasia.com/
article-7041-clinicaltrialsgoglobal-Asia.html
16
MicroArray (Oct. 27, 2009), “First Chinese Clinical Research Outsourcing Industry Standard Under Development.”
Retrieved 2010-02-15. http://microarray.wordpress.com/2009/10/27/first-chinese-clinical-research-outsourcing-
industry-standard-under-development/
17
Pacific Bridge Medical (Feb. 1, 2009), “India Steps Up Clinical Trial Oversight After Infant Death.” Retrieved
2010-02-15. http://www.pacificbridgemedical.com/newsletter/article.php?id=394
18
PWC, 14
19
LeadDiscovery (2008), “How to Conduct Clinical Trials in China.” White paper abstract. Retrieved 2010-02-15.
http://www.leaddiscovery.co.uk/reports/980/How_to_Conduct_Clinical_Trials_in_China/

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initiatives in this area, including a move from a decentralized approach to drug control to a single
Central Drug Authority, modeled after the United States’ Food and Drug Administration. As
governments in China and India seek to remove regulatory hurdles where possible, approval times
are expected to shorten further.

Finally, a reversal in the diaspora of technical and leadership talent that once migrated from Asia to
the West is gaining steam. Many CROs in both countries were started by returnees or today have
one-time expatriates serving as senior executives. These executives and experts interact regularly
with their counterparts in global companies, further fostering the exchange of knowledge and
insight necessary for innovative research and development.

A More Uniform Approach

So is the stage set for Asia to take the next step up the value ladder in helping the global
biopharmaceutical industry increase productivity, accelerate timelines and manage complexity?
Perhaps. But in order for the region to fully realize its potential, some final pieces of the puzzle
must be addressed.

For one, Intellectual Property Protection (IPP) remains a significant barrier to real innovation. In the
past, the majority of outsourced clinical activity in Asia has focused primarily on relatively
inexpensive areas such as biology and chemistry, driven by pharma’s desire to keep higher-value,
more patent-heavy activities under direct control. Today, however, an increasing number of CROs
across the entire region – both local and foreign-owned – are moving into more lucrative stages of
the drug development chain. These offerings include integrated drug discovery capabilities that
encompass the drug discovery spectrum, from lead identification to lead optimization, supporting
biology, process chemistry, formulations, preclinical toxicology and more.20

As Western companies begin to feel more confident about outsourcing discovery research projects
to Asia – a vital step in creating the critical mass necessary to foster innovation – they must believe
patents are safe. Fortunately, significant progress has been made by some key Asian territories to
enforce IPP and implement patent laws. Singapore has established a strong track record for IPP,
South Korea’s 2007 Free Trade Agreement with the United States includes an improved patent
system, and China and India have also placed the need to address IPP issues near the top of their
agendas.21

Harmonization of government regulatory schemes is also an urgent issue. While some countries
such as India may fare better than Eastern Europe or China in terms of a regulatory environment,
the situation is hardly uniform across the region. Despite their growing economic prowess, many
Asian countries outside of China and India lack the market size or human resources to develop
full-fledged pharmaceutical companies on their own. A more uniform approach to regulation of
clinical studies and results could, over time, help create a pan-Asian pharmaceutical market large
enough to encourage a range of biopharma companies to find their niches without having to
reinvent the wheel in each new geography.

20
PharmaOutsourcing (Oct. 2009), “Future Trends in Preclinical Sourcing by Big Pharma.” Retrieved 2010-02-15.
http://pharmoutsourcing.com/images/article/Stout_Final.pdf
21
Research and Markets (Sept. 2009), “The Outlook for Pharmaceuticals in South East Asia to 2013.” Research
report. Retrieved 2010-02-03. http://www.researchandmarkets.com/research/659abb/the_outlook_for_ph

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Linking Ideas and Expertise
Beyond state responsibilities and legal protections, the region’s culture of innovation is further
hampered by legacy issues surrounding a lack of educational infrastructure and effective
collaboration between industry and academia. To innovate, scientists are best served when able to
draw from different disciplines like mathematics, biology and chemistry.

In Asia, however, educational systems often create scientists who have little exposure across
disciplines due to excessive focus on specialization and minimal opportunity to change disciplines.
Despite a steady rise in the number of doctorates in natural sciences and engineering awarded
throughout the region, sufficient linkage has not been established between key innovation centers
such as universities, public institutions and private industry facilities, further hampering drug
discovery by minimizing interdisciplinary processes.

Finally, the most powerful force in enhancing innovation throughout the region may be a simple
change in thinking. For the most part, the R&D business models of Western biopharma companies
are still heavily skewed toward a developed markets perspective – demonstrated by the regularity in
which research priorities and in-licensing opportunities in Asia remain focused on the needs of
North American and Western European nations. To fully engage in the processes that lead to
innovation, the region as a whole must re-examine its priorities to include placing its own unmet
healthcare needs in line with its vast potential for drug discovery and development.

Whether addressing tuberculosis, diabetes, Hepatitis C or any of a range of Asian-specific disease

manifestations or characteristics, the desire to effectively leverage lower cost, higher value
processes and infrastructure to pilot novel drug development methods may, in the end, be
harnessed most effectively when the end user resides across town rather than across the world.

A New Center of Gravity

Although significant challenges remain, a culture of innovation is poised to take root today across
Asia, as the infrastructure for world class R&D is developed, the level of technical and leadership
talent grows and a renewed emphasis on regulatory harmonization takes place in countries big and
small. As the center of gravity for the industry shifts from developed to developing geographies, the
balance of pharmaceutical investment and innovation will also shift toward a future where high-end
drug discovery in Asia will play an increasingly significant role.

For those companies prepared to partner with providers who are driving change across the region –
and are able to successfully navigate risk and seize the opportunities in this New Health landscape –
the potential for Asia to play a critical role in the global drug development industry can fully be
realized.

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ABOUT THE AUTHORS

Ferzaan N. Engineer, Ph.D.

Chief Executive Officer of Quintiles Research (India) Private Limited

Ferzaan Engineer, Ph.D., is Chief Executive Officer of Quintiles Research (India) Private Limited. In
this role, Dr. Engineer oversees the company’s operations in India and has been instrumental in
establishing and growing Quintiles’ presence in that country to now include more than 1,400
employees in five locations: Ahmedabad, Bangalore, Hyderabad, Mumbai and New Delhi.

After stints as a college professor and leadership positions with Core Healthcare Limited, Dr.
Engineer joined Quintiles in 1997 and successfully established Quintiles as India’s first international
clinical research organization (CRO). A noted expert in the field of pharmaceutical research, Dr.
Engineer has spoken at various international conferences and has had numerous research papers
and abstracts published in international journals on a variety of pharmaceutical research topics.

Dr. Engineer earned his bachelor’s degree in pharmacy from LM College of Pharmacy in
Ahmedabad, India and his Ph.D. in pharmaceutical sciences from the College of Pharmacy at the
University of South Carolina.

Anand Tharmaratnam, M.D., MRCA

Senior Vice President and Head of Clinical Development for Asia-Pacific, Quintiles

Dr. Anand Tharmaratnam is Senior Vice President and Head of Clinical Development for Quintiles’
Asia-Pacific operations. In this role, Dr. Tharmaratnam has responsibility for the Quintiles clinical
business across the Asia-Pacific region, including Japan. In the Asia-Pacific region alone, Quintiles
has more than 20 offices and employs approximately 3,000 full-time clinical development
professionals.

Dr. Tharmaratnam joined Quintiles in 1997 as a Clinical Pharmacologist at Guys Drug Research
Unit, having spent the previous five years working in anesthesiology and critical care medicine in
London. Since joining Quintiles, Dr. Tharmaratnam has served in a number of leadership roles,
including as Medical Director for Quintiles Europe, as well as leadership positions within the
company’s ECG business and its Japanese operations.

Dr. Tharmaratnam earned his medical degree from University College London, UK, where he
specialized in anesthesiology. He is also a member of the Royal College of Anesthetists, UK.

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