Monday, July 14, 2008

The Move to Strategic Partnering for CROs

In 2007, biopharma companies spent $8.5 billion around the world on contract clinical studies. Budgets spent on development went from 14% in 2001 to 17% in 2007. This sector also has an astounding growth rate at 6% each year since 2002. Instead of turning inside their companies to research and develop, biopharma companies look outside to CROs that prove to be faster when conducting clinical trials. Contract Pharma took a chance to look at how clinical companies are moving their trials to specialized research organizations.

Lately, the CROs are doing all the work, as many of the biopharma research teams have not grown even through more research is going on. Partnering with CROs is a way to improve performance and efficiency in clinical trials.

The benefits of strategic partnerships are numerous if the correct CRO is chosen. The goal, according to the authors of this article, is to build a team of complementary competencies to take full advantage of expertise and operating efficiency that each party brings to the table. After the right clinical outsourcer is found, it is important to make a senior level committee that meets at least twice a year in order to discuss the progress of the trial.

One of the enormous benefits of a partnership is the high levels of performance and efficiency that occur during the clinical trial. After the partners have worked together, they’re going to gain a certain amount of autonomy, trust and make use of the partner’s key strengths; this will lead to a more powerful partnership of the two teams.

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