The history of HungaroTrial seems to be a constant series of successes. How have you managed to create such a wide range of clinical services in numerous countries of Central and Eastern Europe? What were the biggest obstacles which you have encountered on the way of company’s expansion outside Hungary?
Much of this successful growth has come with patience. The company faced some difficult decisions as it began to experience this expansion. Would it be better to take bigger steps with investors and struggle to maintain a certain level of quality, or implement a continuous step-by-step development strategy where growth is staggered? Speed of growth is a difficult balance, but at HungaroTrial, we feel we have found what works best.
During expansion, some of the obstacles the company was confronted with included comprehending and implementing regulatory laws in new countries of operation, and building and maintaining trust in new therapeutic areas and geographic locations. These obstacles truly challenged the company, but overcoming them is what helped us position ourselves as one of the best CROs in the region.
Could you briefly describe the services you provide? How do they differentiate from the competitive ones?
HungaroTrial provides Phase I-IV clinical research services to pharma, biotech, and medical device companies. These services include project management, study planning and feasibility, site selection and support, site monitoring, regulatory management, and CRA outsourcing.
Local knowledge and expertise, strong relationships with KOL’s, and meaningful rapport with study sites are just some of the ways we set ourselves apart from competitive international CRO’s.
What do you think has been your biggest achievement since the establishment of the company?
To define only one achievement would be difficult as we have had many successes in our 13 year history here in CEE. However, what we consider to be most important is the consistent trust bestowed upon us by biotech and pharmaceutical companies from the United States to carry out studies in the region. This respect strengthens our worldwide reputation and brings repeat clients from the EU and US.
According to your website, one of your competitive advantages are people - the staff turnover is less than 4%; the medical staff is the strongest in CEE. Is the team cooperating with you the cornerstone of the company’s success?
Team cooperation and collaboration are important factors in the success of HungaroTrial. Our employees hold themselves to the highest standards and are willing to go beyond what is expected to ensure the success of a study. We have faster study start-up, faster patient enrolment, and more satisfied sponsors due in large part to our team.
What are your plans for the future? Is your desire to perform clinical trials worldwide?
Growth is always on our minds, and yes, there are plans to increase our regional and global coverage. Most recently we expanded our operations to Bulgaria and Poland, allowing us to offer more to our clients. However, our main goal is always to demonstrate the capabilities and benefits of the Central and Eastern European region and to be at the forefront of this movement.
What were the outcomes of the webinar that took place on 6th December 2012? How Israeli companies can take advantage and maximize study capabilities in CEE?
We saw great results as there was a strong response from registrants for this webinar. Participants were surprised and intrigued to learn of the opportunities in the region, especially regarding the large patient populations available for their upcoming studies. Many companies are still unaware of the success they can achieve in CEE.
Do such events like the one mention above are organized in series? What topics do you plan to discuss in 2013?
Last year we held two of these series’, one in May and one in October, both of which were well received in the pharma and biotech community. We had requests from all over the world and even held multiple presentations to accommodate these participants.This next year will bring new additions to our program including paediatric and medical device presentations in hopes of demonstrating the strength and diversity of the region.
Have you heard about Bioforum organized in May in Budapest this year? Are you going to attend it? What do you think about the extent of cooperation among CEE life science companies? Would it be favorable for CEE market to be more integrated?
Yes we are aware of the Bioforum event this year and are planning on attending in May. It will be a great opportunity for companies to exchange thoughts and ideas while fostering greater cooperation in CEE. There is still a lot of room for growth and expansion in the region, and with stronger integration, companies throughout Central and Eastern Europe can make a global impact on the pharma and biotech industry.
For more info visit the company's website: http://www.hungarotrial.com/
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