Second Generation Contract - CDM

All Large Pharma companies are getting towards the end of the contracts they had with CROs and IT/ITES with respect to Clinical Data Management. The question on the mind of the Pharma is whether to go with the same vendor or collaborate with a new vendor? The article will provide an overview of what can be done to if the company decides to renew the contract i.e. Second generation contract with the same vendor. Generally, First Generation Contracts are managed depending upon services required whereas the Second Generation Contracts are based on the unit cost of the First Contract. When the first generation contract is in place, all necessary legal terms are agreed upon and there might not be any changes in that as these legal terms are approved by in-house legal counsel of the Pharma Company. The Second generation contract do not required legal counsel approval unless changes are made to the mail legal terms.?? The time for completion of the contract is reduced as legal terms are agreed upon previously.