Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | Top 20 Contract Research Organizations (CRO)Contract Research Organizations are Emerging as Strategic Partners
By: Rajesh Gunnam The pharmaceutical industries in the US and Europe are facing severe financial constraints which are expected to worsen in the coming years. Pharmaceutical companies are under increasing pressure to reduce expenditure due to the increasing cost of introducing new molecular entities (NME), which in 2008 stood at more than $3 billion, tightening Food and Drug Administration (FDA) regulatory issues, blockbuster drugs worth more than $100 billion set to expire by 2014 and limited pipelines. For Sample Pages, please click or add the below link to your browser: http://www.gbiresearch.com/ In an interview with GBI Research, Laurene Isip, Head of Corporate Communications at Covance Inc, said “Facing the loss of billions in annual sales due to key product patent expirations, many pharmaceutical companies are under significant pressure to cut costs. As a result, some companies have responded by restructuring their R&D organizations and others have looked to new outsourcing models, including alliances and partnerships with Contract Research Organizations (CROs), in order to develop a faster, more efficient drug development process.” Such pressures are expected to encourage companies to perform R&D activities, a major expense, in low-cost countries such as India and China The US and Europe dominate the contract research outsourcing market and account for the majority of clinical research activities. However, this trend is changing with the emergence of regions such as Central and Eastern Europe, Latin America, India and China as preferred locations for outsourcing. Over the last decade, India and China have developed significant capabilities in drug discovery research, and considerable capabilities in Phase I and II clinical trials. Both countries are able to provide significant cost savings in the range of 60–70% for discovery research and clinical trials. With discovery research occupying close to one-third of R&D expenditure for the Western pharmaceutical industry, outsourcing to low-cost countries is a logical cost saving strategy. Leading business intelligence provider, GBI Research, has released its latest report, “Top 20 Contract Research Organizations (CRO) - Asia-Pacific, Especially India and China, Positioned to Benefit from Rising Financial and Regulatory Pressures in Western Pharmaceutical Markets”, which provides key data, information and analysis of leading CROs. The report provides a comprehensive insight into the CRO market size, and includes forecasts, profiles of top CROs, drivers and restraints and deals analysis. For further details, please click or add the below link to your browser: http://www.gbiresearch.com/ Visit our report store: http://www.gbiresearch.com For more details contact: pressreleases@ North America: +1 646 395 5477 Europe: Asia Pacific: # # # GBI Research is a market-leading provider of business intelligence reports. GBI Research covers worldwide markets and issues, supplies actionable data and forecasts and is driven by industry leaders’ insights. GBI Research provides a broad spectrum of reports across the healthcare and energy industries and its online offering is easy to navigate - a comprehensive resource for business information needs End
|
| |||||||||||||||||||||||||||||||||||||||||||||||||||
Account Phone Number