Biopharmaceutical industry executives see a positive impact on their relationships with contract research organisations (CROs) from the new wave of multi-year strategic partnerships, research from Parexel indicates.
In a survey conducted for the US-based biopharmaceutical services provider by Booms Research & Consulting, 85% of the senior-level executives interviewed who were engaged in strategic partnerships felt these arrangements were good for their relationships with CROs, enabling reduced oversight, lower fixed costs and access to capabilities not available internally, Parexel reported
Booms Research interviewed C-suite leaders as well as heads of clinical operations, research and development, and strategic outsourcing at 26 global biopharmaceutical companies, of which 71% were large pharmaceutical companies, 12% mid-sized pharmaceutical companies and 17% small biopharmaceutical companies.
Needs to evolve
These executives believe strategic partnerships are transforming the way new therapies are developed and commercialised, Parexel noted.
However, they also felt the strategic-partnership model needs to evolve if it is to meet the challenges of a constantly changing regulatory environment adequately and effectively.
Asked about their vision for next-generation strategic partnerships, respondents identified better alignment of commercial incentives, deeper team collaboration and faster time-to-market through improved cycle times as the top three areas for attention, Parexel said.
The new report, Strategic Partnerships 2013, was released at the 22nd Annual Partnerships in Clinical Trials Conference in Orlando, US.
According to Parexel, it is the first such publication to explore the current outsourcing landscape and the value brought by strategic partnerships to biopharmaceutical companies of all sizes.
“Strategic Partnerships 2013 highlights the growing importance to biopharmaceutical companies of engaging in strategic partnerships to drive greater value through seamless integration, aligned goals and mutual investment,” commented Josef von Rickenbach, board chairman and chief executive officer of Parexel International.
A full copy of the report can be downloaded from Parexel’s website at www.parexel.com.