How are CROs investing in their infrastructure to help pharmaceutical companies make the case for strategic outsourcing?
In today’s economy, outsourcing has become more of a necessity in the globally competitive, modern business world. But, relative to other industries, the pharmaceutical sector has been slow to adopt strategic partnering. Other industries have taken bold steps to get more from outsourcing and have enjoyed up to 30% reductions in cost and sizable productivity improvements. These industries have realized that you can’t be the best in the world at everything. Today, approximately 25% of new product development in the biopharmaceutical industry is outsourced, which is significantly lower than other industries. One pressing issue is expediting patient recruitment, including having staff and infrastructure in the faster growth areas for clinical trial conduct, such as Latin America, Central and Eastern Europe and Asia-Pacific. Large CROs now have scale, skills and global reach. They also have invested in newer facilities, better technologies as well as strengthened therapeutic expertise. CROs
