Updated on 31 May 2012
Companies that previously managed the entire development of a new drug in-house now outsource key elements to third parties
Over the past few years, a significant shift has occurred in the depth and type of relationships that the pharmaceutical industry has with its third party contractors. From need-based tactical fulfilment of requirements, these relationships have progressed to high-level strategic partnerships. Companies that would previously have managed the entire development of a new drug in-house are now outsourcing key elements of their drug development process to third parties. This shift has not only created a host of new job roles within outsourcing firms but has also made them more attractive to executives looking to make the move, from in-house to contract partner.
"Contract partners used to face significant challenges in attracting the best talent or offering comparable packages as compared to big pharma. But outsourcing companies have evolved over time to become specialists, improving their standards and systems to a level where they are often better than those operated by the pharmaceutical industry. Their increased capability to operate at a global level also offers more exciting opportunities for potential employees," says Mr Schwietert.