Wayland Rushing and Thomas J. Wilson, ABC Laboratories and Synta Pharmaceuticals04.03.13
As the life science industry increasingly adopts outsourcing as a business strategy, the nature of the CRO-sponsor relationship has also matured, transitioning from tactical to a more strategic partnership arrangement. No longer are CROs primarily considered extra pairs of hands for fleeting, one-off transactions. Sponsors are relying more heavily on CROs as partners in collaboration to achieve long-term development goals, improve productivity, and conduct research more efficiently and effectively.
Forging a long-term partnership is a major commitment. But once you have done your due diligence, selected a CRO, and signed all the appropriate documents, how do you ensure a successful, value-creating relationship? Like a marriage, success in a business relationship depends heavily on the human elements — the mutual trust, commitment and tone of interactions between partners. These things can be open to interpretation and difficult to define; however, there are structured ways to improve the odds for long-term success.
Define Criteria for Success
A successful relationship requires competent partnership man
Forging a long-term partnership is a major commitment. But once you have done your due diligence, selected a CRO, and signed all the appropriate documents, how do you ensure a successful, value-creating relationship? Like a marriage, success in a business relationship depends heavily on the human elements — the mutual trust, commitment and tone of interactions between partners. These things can be open to interpretation and difficult to define; however, there are structured ways to improve the odds for long-term success.
Define Criteria for Success
A successful relationship requires competent partnership man
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