Pharma not using outsourcing to its fullest, says report
Outsourcing has not been grasped fully by the pharmaceutical and biotech companies.
"Outsourcing is seen as the future of an increasingly innovation-driven R&D industry in which drug firms are having to think outside the box in order to keep spiralling costs down while producing better quality data.
In addition, the high level of generic competition, with an expected $80bn (€63.7m) of 2005 branded sales that will be exposed to generic competition between 2006 and 2010."
There are added benefits that companies can gain by further moving towards a fully integrated outsourcing model, according to Datamonitor.
"These models can vary but Datamonitor believe that secondary core functions such as manufacturing, clinical trials and sales can be successfully outsourced, as could non-core functions such as human resources, finance and IT."
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"Outsourcing is seen as the future of an increasingly innovation-driven R&D industry in which drug firms are having to think outside the box in order to keep spiralling costs down while producing better quality data.
In addition, the high level of generic competition, with an expected $80bn (€63.7m) of 2005 branded sales that will be exposed to generic competition between 2006 and 2010."
There are added benefits that companies can gain by further moving towards a fully integrated outsourcing model, according to Datamonitor.
"These models can vary but Datamonitor believe that secondary core functions such as manufacturing, clinical trials and sales can be successfully outsourced, as could non-core functions such as human resources, finance and IT."
To view the full article click here
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