Can Strategic Outsourcing Drive Innovation?

My article on how developing a strategic partnership with a clinical research organization (CRO) can drive innovation just went live over at Life Science Leader.

During the past decade, one of the most significant trends in biopharmaceutical industry has been the evolution of outsourcing relationships. The business relationships between biopharmaceutical companies and CROs has moved from a traditional project-by-project outsourcing models to strategic partnerships designed to deliver greater benefits and innovation.

What does a company gain by working with a CRO? According to Gary Laramee of King Pharmaceuticals:

The biggest CROs offer knowledge and expertise throughout the product development process. They have worked with many companies at every stage of development. They have global resources and can manage trials and recruit patients both domestically and internationally. Some even offer financing and will partner with companies.

According to Josef von Rickenbach, chairman and C.E.O. of PAREXEL, one of the world’s largest CROs,

The locus of product development process innovation has moved into the large, global CROs.

Clinical development innovation is shifting to CROs who have a tradition of delivering results on a tight budget. This makes a lot of sense for pharmaceutical companies looking to shake up their internal research and development efforts.

I really enjoyed speaking to each of the participants in the article and plan to spend more time learning how small- to medium-sized biopharmaceutical companies and start-ups can leverage the full range of innovation that CROs offer.

Surf on over to Life Science Leader to read the full article.