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Opportunities Beyond Cost Savings

Posted by | Fuld & Company

Maximizing the Strategic Value of Global R&D Outsourcing

With the globalization of the pharmaceutical industry, most of the arguments for research and development (R&D) outsourcing have focused on the cost-saving benefits that U.S.-based pharmaceutical firms can enjoy if they outsource their R&D. Much less discussed are the more strategic, value-enhancing benefits of global R&D outsourcing — new drug discoveries, patient recruitment, new market opportunities unique to local environments and even potential new sources of funding. Indeed, in an industry where R&D expenses comprise roughly one-third of total costs, we have reached a point of inflection where R&D management has to be viewed with a fresh perspective.

The trend towards greater global outsourcing of the R&D function within pharmaceutical companies is well-documented. In just the past few months, several large multinational pharmaceutical companies have announced plans to double if not triple the percentage of the work that they currently outsource. For example…

Read the rest of the Contract Pharma article here.

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