InPharm | Ben Adams
Pharma
firms need to create closer and more flexible relationships with their contract
research organisations for better outcomes.
This is according to a new report: ‘Nimble Partnerships in the Pharma Industry: Well-Designed CRO
Relationships Enhance Focus and Flexibility’, commissioned by ICON, a provider
of outsourced development services to the pharma industry, and the global
consulting firm Booz & Company.
ICON says that pharma companies are increasingly using contract research
organisation (CROs) to undertake their research and development, and their
study provides new insight into how to structure the relevant partnerships for
success.
The key findings of the report shows that CROs need to demonstrate
innovative approaches in activities that range from monitoring to data-driven
insights to employee retention.
The report also says that pharma companies that adopt a nimble,
capability-centred approach to partnerships will be more focused, make better
use of their distinct capabilities, and generate more value.
Global pharmaceutical outsourcing is expected to reach $28 billion this
year and climb to $35.5 billion by 2015, an increase of more than 10% since
2009.
“Developing the capabilities to partner with CROs is a critical key to
success for pharma companies in today’s increasingly complex and competitive
environment,” said Matthew Le Merle, a partner with Booz & Company. “But our research clearly showed that most companies are not structuring
their CRO relationships strategically. This is wasting time and money they can
ill afford to lose.”
Ciaran Murray, chief executive at ICON, said: "Regardless of the model
chosen, a top-down approach to partnerships where the performance measures are
tied to the strategic objectives of the partnership is fundamental to success.
“ICON has been successful in building close strategic partnerships by being
flexible and innovative in the way that we conduct clinical research and in how
we build our partnerships.
“We also continuously look to expand our capabilities and service offerings
in order to ensure that we deliver value,” he added.