Beginning with research and ending with final public use approval—drug discovery and development is a long, intricate and costly process for pharmaceutical companies worldwide. With the complexity of diseases becoming more evident, it’s increasingly putting pressure on pharma companies to deliver cures for the unmet needs of patients, pushing the drug development costs and impacting the price of medicine for consumers. According to a recent survey, the average R&D expenditures per new drug range from less than €1.12 billion to more than € 2 billion.
As a result, in an effort to alleviate the pressure imposed by lengthy drug discovery timelines and the soaring costs of development, pharmaceutical and biotechnology companies in the UK are increasingly looking to outsource their research and
development. In addition, the COVID-19 pandemic has further contributed to the surge of outsourcing by necessitating extra capacity and capabilities on a global scale. We are witnessing a trend of strategic outsourcing and diversification to help mitigate costs and protect the business from any bottlenecks that could result from future pandemics. It has become essential to leverage expertise, specialized capabilities, know-how and technologies to help fast-track drug discovery and development processes.
Additionally, in this edition of Pharma Tech Outlook Magazine brings you the “Top 5 Pharma Outsourcing Companies in UK - 2021.” This list gives you some of the most prominent organizations in the industry that have excelled with their services and solutions portfolio, and aimed at bridging the gap between businesses, consulting and service providers that are transforming modern landscape through their insights and technological prowess.
