OUTSOURCING MODEL OF DRUG DEVELOPMENT IN PHARMACEUTICAL INDUSTRY

Abstract

In recent times health-care budget constraints have been responsible for the mounting pressure on the profitability and growth prospects of the pharmaceutical industry. The performance in the past decade has not been able to boost the confidence levels of patients, health-care professionals, sponsors, and stakeholders. At the crux of the matter is that in the midst of the ever growing market for new drug molecules, loss of revenue due to patent expirations can only be sustained by igniting the R&D productivity. This paper attempts to focus on the service providers in clinical research which have over the past two decades turned into a specialized global industry providing niche services. This expanding industry may include patient recruitment firms, site management organizations, academic research organizations, data capture software vendors, and commercialized institutional review boards.