Outsourcing in Pharmaceutical Drug Development
Added on 2020-03-23
7 Pages1306 Words314 Views
Healthcare and Research
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Running Head: The outsourcing model of drug development in the pharmaceutical industry.The outsourcing model of drug development in the pharmaceutical industry.(Name)(University)(Course)(Instructor)(Date of submission)
1The outsourcing model of drug development in the pharmaceutical industry.Table of ContentsIntroduction......................................................................................................................................2Why do pharmaceutical companies outsource?...............................................................................3Future outlook in outsourcing..........................................................................................................4Conclusion.......................................................................................................................................5
2The outsourcing model of drug development in the pharmaceutical industry.IntroductionThe outsourcing model by definition is the making of partnerships or contracting a thirdparty for particular services or associated studies. The fully integrated pharmaceutical company(FIPCO) was a successful paradigm shift in business where research in drug discovery,manufacturing, marketing and development were done in-house. However, the trend has changedand most of the pharmaceutical companies are doing less drug Research and Development (R &D) in-house as they used to do in the past decades (Winny & Jennifer, 2012).Nowadays, the common paradigm shift in business is the virtually integratedpharmaceutical company (VIPCO), or a company that outsources much of the drug developmentpipeline. Outsourcing is important especially in the drug production line to compensate for thehuge number of drugs coming off the industry, low productivity in the industry and beatcompetition from generics (Winny & Jennifer, 2012).Contract Research Organizations (CROs), clinical laboratories, in vitro diagnosticcompanies (IVD), contract manufacturing organizations (CMOs), and regulatory consultants allsupport the needs in conventional pharmaceutical outsourcing. Furthermore, pharmaceuticalcompanies engage external relationships in the early stages of drug discovery. Outsourcing ofdrug discovery has been presented in the form of open innovation in which companies engageuniversities, government research institutes, specialty pharmaceutical companies or externalpartners in identification of drug candidates that match the interests of the business (Winny &Jennifer, 2012). The essay discusses the importance of the outsourcing model of drugdevelopment in the pharmaceutical industry
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