What to consider when choosing your CRO?
The pharmaceutical and biotech industries are experiencing a lot of changes these days, and they often face tough decisions to be made. Many of these decisions are directly related to the steep decline in research and development (R&D) efficiencies that is being observed for decades. It is all clear that changes are inevitable and desired, and several models are already outlined and in practice, including portfolio management, R&D cost cuts, open innovation and crowdsourcing. In addition to these, outsourcing has become one of the most viable solutions in externalizing the R&D activities of life sciences companies. However, in the growing and constantly changing landscape of service providers you have to ask yourself the question: How can I be sure that I have picked the right provider that not only fits right into the structure of the company at the time being, but can also be considered for a longer period? Here we are trying to cover all the important aspects that you need to consider when in the process of choosing a service provider as well as what we think the characteristics are of an “outstanding” one.