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Establishing new market entry through effective CRO partnerships

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SIEGFRIED SCHMITT
PAREXEL Consulting, The Quays, 101-105 Oxford Road, Uxbridge, Middlesex UB8 1LZ, UK

Abstract

Selecting a suitable CRO that matches the pharmaceutical company’s capability and needs can be very successful, provided certain ground rules are followed as detailed in this article. Equally important is the fact that CROs can provide most valuable expertise and support to gain market entry. The article is providing some specific examples.


INTRODUCTION

To meet the demands of a challenging global marketplace, pharmaceutical companies of all sizes are embracing outsourcing, often in strategic partnerships to create a cost-efficient blend of internal and external resources that helps them optimise their development programs and product portfolios. This partnership approach allows the pharmaceutical companies to reduce oversight costs and concentrate on their highest priorities, such as research, product acquisition, and market expansion. Benefits can include significant cost savings, accelerated product development, higher quality, and reduced risk. To capitalise on those benefits, however, a pharmaceutical company must choose the right partner - one with in-depth experience, proven processes, a (glo