By: Vimal Singh --
31 March, 2014
1. Introduction: 85% of R&D Professionals interviewed are of the opinion that taking R&D virtual is one of the foremost steps required to step up efficiency in terms of cost and time. In spite of this positive outlook, the current outsourcing rate remains an ungenerous 30%. Large pharmaceutical companies are looking to restructure in 2014. During this transition, viable alternatives can be provided to improve the R&D process. This whitepaper will explore the current impediments causing this shift and will provide solutions to increase it to the expected level. 2. Main: Over the last 3 years, the average R&D cost per drug has increased by 14%.Drug Development timelines still last over 10 years with 80% of trials breaching deadlines. Even though the number of drug approvals last year has increased the real test lies in realizing how large a section of the society it will cater to. To recalibrate this system, it is necessary to adopt different models of drug development such as the virtual pharmaceutical model. A virtual pharmaceutical company is defined as a company that outsources all of its essential services such as R&D, manufacturing etc. keeping only the knowledge base in-house. We shall limit the discussion to the R&D department of a pharmaceutical company. In a virtual company, the structure has evolved from a FIPCO (Fully Integrated Pharmaceutical Company) to a VIPCO model (Virtually Integrated Pharmaceutical Company).
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