Insourcing is the New Outsourcing in Biopharma
Life Sciences Leader - June 2009
As patent expirations loom and economic and regulatory pressures increase, the pharmaceutical and biotech industries are looking for new ways to bring compounds to market quickly, safely, and cost-effectively. The amount of time and investment required to conduct, analyze, and document clinical trials has grown enormously in the past 25 years, and many pharmaceutical companies have chosen to focus on pure research, while contracting out development and regulatory work to contract research organizations (CROs).
Contract research already accounts for more than 17% of total drug development spending, according to the Tufts Center for the Study of Drug Development, and this number is likely to increase. With dependence on contract research increasing, CROs are finding new, creative ways to embed their expertise in R&D pipelines. One of these new outsourcing ideas is sometimes called “insourcing”...Read the full article.