RESEARCH TRIANGLE PARK, NC--(Marketwire - April 9, 2009) - In response to the economic
downturn, pharma companies are looking into every available option to save
money without sacrificing clinical development goals. Clinical research
organizations (CROs) are reaping the benefits. According to a new report
released by Cutting Edge Information, 58% of pharmaceutical and biotech
companies elect to fully outsource nearly every clinical trial task.
Other companies choose to only outsource specific parts of drug
development. No matter how they approach the process, however, pharma and
biotech companies make strategic gains by working with vendors.
Outsourcing lets them manage costs while tapping into the experience and
reach of outside companies that specialize in conducting clinical studies.
"Clinical Outsourcing Strategy: Selecting Partners and Managing
Relationships" (
http://www.clinicaloutsourcingstrategy.com) details the
prominence of outsourcing at different stages of drug development. Data
reveal how companies balance vendor-delegated tasks with in-house
activities. According to the report, for example, 68% of respondents
outsource data management. At the other end of the spectrum, most
companies handle trial supplies management and medical writing themselves.
Protocol development tends to be the last activity kept in-house.
"Strategic outsourcing is a firmly ensconced part of the drug development
process," said Jeremy Spivey, research analyst for Cutting Edge Information
and lead author of the report. "Ideally, CROs and other clinical vendors
allow organizations to carefully manage costs while providing world-class
capabilities and expertise."
The report examines clinical outsourcing trends and provides strategies for
eliminating common obstacles in CRO selection and management. It shows
trial sponsors how to formulate a proactive outsourcing strategy, establish
criteria for selecting a vendor and manage day-to-day CRO relationships.
It also breaks down the risks and benefits of outsourcing to underdeveloped
countries, an increasingly prominent practice.
Twenty-four top pharma and biotechnology companies participated in the
study. Key metrics measure the following vendor-selection criteria:
-- Overall cost and preferred status in CRO selection
-- CRO size and geographic reach
-- Work quality
-- Relationship management
-- Different CROs' ability to meet deadlines
The report also breaks down the outsourcing timeline with a focus on the
following points:
-- Number of CROs submitting proposals by clinical phase
-- Weeks elapsed from proposal deadline to final CRO/vendor selection by
clinical phase
-- Time spent negotiating contracts with CROs/vendors
A complimentary report brochure is available at
http://www.clinicaloutsourcingstrategy.com.
Contact Information: Contact
Jeremy Spivey
919-433-0373