PAREXEL has released a report entitled Strategic Partnerships 2014: Driving Biopharmaceutical Outsourcing Effectiveness that provides insight on the value of multi-year, integrated partnerships between sponsors and CROs.
The independent research firm Blue Pyramid Consulting, a subsidiary of The Avoca Group, conducted an online survey of 148 senior-level executives representing a range of large, mid-sized and small biopharma companies and included questions to better understand the current state of clinical development outsourcing and strategic partnerships.
According to the report, strategic partnerships are perceived as the most effective outsourcing approach in meeting key sponsor needs, particularly in enabling cost predictability, strategic management of the R&D portfolio, and management of capacity gaps.
Among companies surveyed, more than half now use a strategic partnership model, with 54% of North American biopharma companies engaging in strategic partnerships, 50% in Europe, and 53% in Asia. Additionally, according to the report, a more positive perception of outsourcing effectiveness within the biopharma industry has increased in the last three years.
"As biopharmaceutical companies strive to increase efficiencies, drive greater flexibility, extend expertise, reduce costs and leverage limited resources, our research confirms they are turning to outsourcing services, particularly Strategic Partnerships, in greater numbers," said Mark A. Goldberg, M.D., president and chief operating officer, PAREXEL. "As a pioneer of this model, PAREXEL continues to invest in its development. In our experience, the value of this model can include accelerated cycle times and the creation of cost efficiencies."