By: Sarika Khasnis --
23 April, 2015
The trade group Pharmaceutical Research and Manufacturers of America (PhRMA) for large pharmaceuticals has announced that industry has more than 900 biologics under development having different therapeutic area focus. The biologics market is estimated to be approximately $190-200 billion by 2015 with a growth rate of 9.9% from 2010. Increased share of large molecule in Pharma R&D pipeline has increased the demand for more Bio-analytical testing. In this scenario, Pharma companies are increasingly adopting outsourcing (from 26% of Bio-analytical spending in 2011-2012 to 36% in 2012-2013) as a strategy to contain cost, reduce time and access expertise. This article talks about the challenges faced by pharma organizations in outsourcing bio-analytical testing and possible solutions.
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