CROs as a strategic fit – the one stop shop for R&D services
publication date: Apr 7, 2008
Contract Research Organisations (CROs) provide independent development services for pharma, biotechnology, and medical device markets. Services offered by CROs have evolved from providing basic support, to a wide range of services catering to various needs of the market and the sponsors. The United States is the world’s largest market for drugs and accounts for almost half of the research and development (R&D) spending in pharmaceutical and biotechnology markets. Hence, CROs have a strong presence in this market and have invested in new facilities and technologies to cater to a wide range of sponsors. It is estimated that only 25 percent of the R&D activity is currently being outsourced to these organisations. This is likely to double in the coming years due to mounting pressure on the pharmaceutical companies to increase productivity of the cost intensive drug development process.
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