The Essential Ingredient in any Sponsor-CRO Partnership: Trust

Gaskin,Peter;

The Essential Ingredient in any Sponsor-CRO Partnership: Trust

Published on: May 16, 2022

BioPharm International, BioPharm International, Partnerships for Outsourcing May 2022, Volume 2022 eBook, Issue 2

Pages: 8–13

To build trust and ensure a high-quality product, companies must be sure their contracts are firm and their lines of communication even firmer.

It wasn’t long ago that pharmaceutical companies did their own research and development in-house, from discovery through investigational new drug (IND) submission. Today, it’s hard to find pharmaceutical companies of any size, from large global pharmaceutical entities down to the smallest biotech company, that has not outsourced some aspects of their work to a third-party organization, whether that be academic institutions, biotech startups, or contract research organizations (CROs). These relationships are likely to continue to grow exponentially. A new market report released this year estimates that the global biotechnology and pharmaceutical services outsourcing market will surpass $91.4 billion US by 2028 because of a 5.2% compound annual growth rate (CAGR) (1).

Today, roughly two-thirds of R&D is being outsourced, with CROs growing dramatically to fill the gap. How can service providers and clients assure that the relationship will be mutually advantageous? What are some of the best practices to ensure a high-quality product? This article will look at how to ensure contracts are established and signed quickly so that science moves forward, why quality assurance (QA) is integral to meeting regulatory compliance, how compromise and coordination are necessary for any winning partnership, and whether geography is important given the globalization of today’s economy.

Read this article in BioPharm International’s Partnerships for Outsourcing eBook.

Reference

1. H. Balfour, “Biotech and Pharma Services Outsourcing Market to Be Worth Over $91bn by 2028,” EuropeanPharmaceuticalReview.com, April 13, 2021.

About the author

Peter Gaskin, PhD, is the senior director of scientific advisory services for Charles River, an AAPS sustaining partner.

Article details

BioPharm International
eBook: Partnerships for Outsourcing
May 2022
Pages: 8–13

Citation

When referring to this article, please cite it as P. Gaskin, "The Essential Ingredient in any Sponsor-CRO Partnership: Trust," BioPharm International’s Partnerships for Outsourcing eBook (May 2022).