Tim Wright, Editor10.14.14
To start I’d like to introduce myself as the new editor of Contract Pharma. I’ve been working here at Rodman Media for 12 years on other publications, covering the nutraceuticals industry, paint and coatings, and most recently nonwovens. So, while the B2B trade-publishing world is certainly not new to me, the pharma industry is.
I was able to get my feet wet at last month’s 13th Annual Contract Pharma Conference and Tabletop Exhibition in New Brunswick, NJ. And what an introduction it was—a one-day crash course, or “speed dating” event, as many of the folks I met referred to it as. In all the previous industries I’ve worked in, I’ve never attended an event that was so vibrant and fast-paced with so much quality content condensed into such a short period of time. If you weren’t able to attend, we've included a brief review in this issue.
I learned essentially that outsourcing has grown to become a viable and healthy business strategy that is enabling pharma and biopharma companies to transfer non-core activities to external partners. Technology innovation, building sustainable business practices, investment in high growth markets, regulatory compliance and maximizing production efficiency to manage cost pressures throughout the supply chain, are all key trends moving the industry forward.
All these topics are front and center in this issue, which marks Contract Pharma’s 15th Anniversary. For the occasion, associate editor Kristin Brooks compiled a “Then & Now Retrospective” where thought leaders offer insight and opinion about the past, present and future of the industry, which, like any, has had its ups and downs, but is healthy and growing.
In fact, a BCC Research report says the global market for pharmaceutical and biopharmaceutical contract manufacturing, research, and packaging will grow to nearly $375 billion by 2018, representing a compound annual growth rate (CAGR) of more than 9%.
In her retrospective piece, Kristin highlights several key trends that have shaped the industry over the years, such as Merck’s blockbuster Vioxx, which she says redefined drug safety oversight and post approval studies, and Pfizer’s original blockbuster Lipitor. In addition, major investments by pharma companies in high growth emerging markets led to a major uptick in drug development in these regions over the past 10 years, with service providers quickly following suit.
Over the years, changes have been numerous and significant. For one, increased regulatory standards have created rapid growth opportunities for companies investing in compliance programs, and the rise of the generics business, along with the growth of the biotech sector in the past 15 years have had a huge impact as well.
The BCC report says, “Outsourcing, once considered as a cost-saving initiative, is now viewed as a ‘strategic competitive weapon’ that offers flexibility in production, satisfies end users’ growing demands, and enhances a company’s competitive advantage.”
The global market for pharmaceutical and biopharmaceutical contract manufacturing, research, and packaging was valued at nearly $220 billion in 2012 and reached $240 billion in 2013. Behind this growth are increasing price and cost pressures, regulatory changes, and patent expiries leading to shrinking margins in the pharmaceutical industry.
While all the trends discussed herein are complicated, this issue offers a snapshot of where the industry was 15 years ago and where it’s headed in the future. Personally, I look forward to learning the ins and outs of this dynamic industry as Kristin and I work closely together to continue to bring forth the magazine’s long-time record of editorial excellence.
While I had the chance to meet some of you at our conference last month, I look forward to meeting many more of you down the road. Please feel free at anytime to offer up your feedback, questions or suggestions—I’m all ears. Also, I’ll be in San Diego next month at AAPS along with the rest of the Contract Pharma team. If you have the time, stop by Booth 1914 and say hi.
Tim Wright
Editor
twright@rodmanmedia.com
I was able to get my feet wet at last month’s 13th Annual Contract Pharma Conference and Tabletop Exhibition in New Brunswick, NJ. And what an introduction it was—a one-day crash course, or “speed dating” event, as many of the folks I met referred to it as. In all the previous industries I’ve worked in, I’ve never attended an event that was so vibrant and fast-paced with so much quality content condensed into such a short period of time. If you weren’t able to attend, we've included a brief review in this issue.
I learned essentially that outsourcing has grown to become a viable and healthy business strategy that is enabling pharma and biopharma companies to transfer non-core activities to external partners. Technology innovation, building sustainable business practices, investment in high growth markets, regulatory compliance and maximizing production efficiency to manage cost pressures throughout the supply chain, are all key trends moving the industry forward.
All these topics are front and center in this issue, which marks Contract Pharma’s 15th Anniversary. For the occasion, associate editor Kristin Brooks compiled a “Then & Now Retrospective” where thought leaders offer insight and opinion about the past, present and future of the industry, which, like any, has had its ups and downs, but is healthy and growing.
In fact, a BCC Research report says the global market for pharmaceutical and biopharmaceutical contract manufacturing, research, and packaging will grow to nearly $375 billion by 2018, representing a compound annual growth rate (CAGR) of more than 9%.
In her retrospective piece, Kristin highlights several key trends that have shaped the industry over the years, such as Merck’s blockbuster Vioxx, which she says redefined drug safety oversight and post approval studies, and Pfizer’s original blockbuster Lipitor. In addition, major investments by pharma companies in high growth emerging markets led to a major uptick in drug development in these regions over the past 10 years, with service providers quickly following suit.
Over the years, changes have been numerous and significant. For one, increased regulatory standards have created rapid growth opportunities for companies investing in compliance programs, and the rise of the generics business, along with the growth of the biotech sector in the past 15 years have had a huge impact as well.
The BCC report says, “Outsourcing, once considered as a cost-saving initiative, is now viewed as a ‘strategic competitive weapon’ that offers flexibility in production, satisfies end users’ growing demands, and enhances a company’s competitive advantage.”
The global market for pharmaceutical and biopharmaceutical contract manufacturing, research, and packaging was valued at nearly $220 billion in 2012 and reached $240 billion in 2013. Behind this growth are increasing price and cost pressures, regulatory changes, and patent expiries leading to shrinking margins in the pharmaceutical industry.
While all the trends discussed herein are complicated, this issue offers a snapshot of where the industry was 15 years ago and where it’s headed in the future. Personally, I look forward to learning the ins and outs of this dynamic industry as Kristin and I work closely together to continue to bring forth the magazine’s long-time record of editorial excellence.
While I had the chance to meet some of you at our conference last month, I look forward to meeting many more of you down the road. Please feel free at anytime to offer up your feedback, questions or suggestions—I’m all ears. Also, I’ll be in San Diego next month at AAPS along with the rest of the Contract Pharma team. If you have the time, stop by Booth 1914 and say hi.
Tim Wright
Editor
twright@rodmanmedia.com