As outsourcing continues to be the trend among major Pharma companies, Genetic Engineering and Biotechnology News looks at what benefits outsourcing both core and noncore functions. They point out that everything is now being outsourced including clinical trial management, manufacturing and drug discovery.
Although investment in new drug discovery has been dropping, many companies have found that outsourcing, many companies have looked at the drug outsourcing as a way to save time and cost in addition to creating flexibility both operationally and financially. Much of this is due to the fact that advances in molecular biology has gotten more complex leading to more complex discoveries. This leaves Pharma companies with more flexible budgets by outsourcing to countries who can do the work more affordably, partners in Asian and Eastern European countries becoming some of the top choices.
This fall at the Clinical Business Expo, the Strategic Clinical Outsourcing Event will highlight global clinical operations, clinical outsourcing, procurement, vendor quality management, oversight, relationship and alliance management, clinical contracting, budgeting and finance executives. For more information on this event, download the brochure. The Clinical Business Expo will take place September 18-20, 2012 in Boston, MA. As a reader of this blog, when you register to join us and mention code XP1725BLOG, you'll save 15% off the standard rate!
What do you think are the benefits of outsourcing drug development to third parties?
The Partnerships in Clinical Trials Blog focuses on optimization intelligence, regulatory trends and globalization strategies for both sponsors and CROs. It is supported by a number of industry events.
Would you like to guest blog on our site? Or send us feedback? Send an email to firstname.lastname@example.org.