Contact Information: Contact: Jeremy Spivey 919-433-0373
Cutting Edge Information Finds the Evolving Pharmaceutical Industry Is Driving Factor for CROs
| Source: Cutting Edge Information
RESEARCH TRIANGLE PARK, NC--(Marketwire - May 27, 2009) - Shifting trends in the global
pharmaceutical industry signal a move toward increased outsourcing and
greater reliance on outside organizations.
"Pharma 2020: Challenging Business Models," a recent report by
PricewaterhouseCoopers, suggests that drug companies may undergo a
transition from the traditional pharmaceutical business model. This change
means a greater emphasis on collaboration between pharma and outside
sectors such as IT, academia, and general healthcare providers. It also
means a heavier dependence on outsourcing, as tasks that were once core
competencies now go to specialized vendors.
Clinical trials present a prime area for outsourcing. "As outside firms
assume more responsibility for day-to-day development, biopharmaceutical
companies must make careful choices when selecting and managing partners,"
says Jeremy Spivey, research analyst at Cutting Edge Information and lead
author of "Clinical Outsourcing Strategy: Selecting Partners and Managing
Relationships."
Emerging markets around the globe offer development opportunities but also
force the industry to adapt quickly. Drug trials in parts of Eastern
Europe and Asia, for example, often mean lower costs and accessible patient
populations, but cross-border challenges abound.
"Every country has an intrinsic set of potential complications," Spivey
notes. "Whether those issues are matters of language, time zone
differences, regulatory oversight or other problems, projects can struggle
in unexpected ways."
Cutting Edge Information's "Clinical Outsourcing Strategy: Selecting
Partners and Managing Relationships"
(http://www.clinicaloutsourcingstrategy.com) discusses benefits and
drawbacks of specific regions when outsourcing trials. The report examines
clinical outsourcing trends and provides strategies for eliminating common
obstacles in CRO selection and management. It also shows trial sponsors
how to formulate a proactive outsourcing strategy, establish criteria for
selecting a vendor, and manage day-to-day CRO relationships.
A complimentary report brochure is available at
http://www.clinicaloutsourcingstrategy.com.