This time last year, 46% of bio/pharmaceutical companies responding to PharmTech’s annual outsourcing survey indicated that their external spending was growing at the same rate of total R&D spending, and their view of the year ahead was quite upbeat. At the same time, service providers suggested that they had adjusted to new market realities by refocusing their efforts and funding targets.
Perhaps more than ever, wrote PharmSource’s Jim Miller in the 2010 survey report, “CRO and CMO respondents are keenly aware of the long-term risks and challenges to their business.” Risks such as the competitive threats coming out of China and India, overcapacity, supplier consolidation, and R&D spending declines were all at play and being discussed by industry strategists regularly.
What is the current mindset, however, among pharmaceutical companies that outsource and the contract organizations that service them? Are more companies thinking about outsourcing their R&D units than have in the past? Is India’s growing biotech industry the focus of outsourcing activities as the desire to develop and own biosimilars grows?
Don’t miss the opportunity to make your opinion on current outsourcing trends heard. Take PharmTech’s annual survey. The results and analysis will be in our August Outsourcing Resources special issue.