Monday, June 18, 2012

How does outsourcing help stretch the Pharma company's dollar?

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.

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What do you think are the benefits of outsourcing drug development to third parties?

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