Shifting From Tactics to Strategy: The New Age of Clinical Development Outsourcing

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* Development
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* Navi Mumbai - Maharashtra - India

June 14, 2009 - PRLog -- Drug companies operate in an environment where research & development (R&D) costs and timelines are skyrocketing, but the number of new molecular entities (NMEs) commercialized are declining. Generally, drug developers use contract research organizations (CROs) to address shortfalls in capacity or expertise. Some far-sighted companies, however, see contract research as part of the solution to challenges plaguing drug development.

CROs focus on clinical development. This focus allows them to develop best-in-class expertise. This specialization combined with a lower overhead cost structures gives contract researchers the potential to perform clinical research better, faster and cheaper than drug developers do.

Yet, despite the potential of contract research, the drug development industry is poor at managing outsourcing. When looking at total management costs (TMC), drug developers are four to ten times less efficient at managing contract vendors than other industries.

This results in a great waste of resources. Even modest improvements in the efficiency with which drug developers use CROs will result in significant savings. This report gives senior managers in the biotech and pharmaceutical industries the tools needed to improve the efficiency of clinical-development outsourcing. This analysis covers four subjects.

   *      First, it identifies reasons why companies choose to outsource clinical development. This section discusses the benefits and challenges of outsourcing.
   *      It then looks deeper into why drug developers are not getting the returns on outsourcing other industries achieve. This section introduces the concept of tactical and strategic outsourcing and identifies four broad types of outsourcing models.
   *      This report then presents a framework managers can use to identify which functions they should send to contract vendors, and which they should develop internally.
   *      Finally, this analysis presents tools that companies can use to determine the ideal relationship the drug developer should establish with each of its vendors to maximize its return on R&D investment. Together, this report gives senior managers responsible for drug development the insight needed to make intelligent outsourcing decisions based on their company‚Äôs business strategy.

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Tags:Shifting, Tactics, Strategy, New, Age, Clinical, Development, Outsourcing, Market, Research, Report
Location:Navi Mumbai - Maharashtra - India
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