Shares of Visual Healthcare (VSHC) traded down over 55% on 10day average volume. We’re expecting bounce for this security from VSHC‘s short time downfall.
Visual Healthcare to Support Chinese Clinical Trials
RENO, Nev. , April 12, 2011 /PRNewswire/ — Visual Healthcare Corp. (the “Company”) (NASDAQ OTC: VSHC) announces today that work has begun on a Chinese based adaptation of the information technology grid that its clients use in their clinical trial applications.
This project has been launched in response to requests from both Chinese academic centers as well as Clinical Research Organization experts responding to Chinese government resolve to create a major domestic drug industry.
In 2007, the Chinese government had enacted a series of laws designed to create significant incentives in order to foster a fast-growth environment for the creation of a large scale pharmaceutical sector. While actual drug manufacturing has been growing, the complexities of running clinical trials according to Western standards has proved a more difficult challenge.
Many U.S. based CROs intend to support Chinese efforts as they see benefits from these developments such as the potential for off shore clinical trials at much lower cost. China may prove to be fertile ground for clinical trials with its large population which may ease hurdles ranging from cost, patient recruitment delays, patient compliance during participation, qualified professionals, new clinical trial patients, and other problems.
“Operating pharmaceutical testing facilities and clinical trials in China will require compatible software to manage their information gathering and data mining procedures,” says Chairman Gerard Dab. “Yes it is a new market and it has some challenges such as conveying novel notions like informed consent but we believe that we can leverage our Chinese experience to generate significant business in helping this budding Chinese industry.”
Although health is provincial or local, the central government now allocates special budgets to hospitals for acquisition of new technology, a move that will help usher in modern clinical trials. Another critical success factor may be our proven ability to secure active support from leading academic communities, vital for both best-practice and scientific credibility.