As pharmaceutical concerns worldover are looking for outside partners in their efforts to reduce costs and cycle times and increase operational efficiency, outsourcing comes the centre-stage. More than anytime, pharma firms are increasingly under tremendous pressure to outsource the whole range of jobs in the entire pharmaceutical value chain.
Cost of successfully getting a drug to market is estimated to be somewhere around US$ 900 million. As the costs reach an all-time high, there is a growing feeling that this needs to be brought down. At present, the pharma industry in the US and Europe spends around 20 to 25 per cent of the their annual R&D spend.
Global outsourcing / offshoring of healthcare services is an industry currently worth about USD 220 bn, says a recent HSBC global research report.
With the outsourcing industry growing leaps and bounds across the industry spectrum, the different stakeholders in the industry embark upon a flurry of activities making themselves benefit from the best, learn the best practices of outsourcing.
An event dedicated solely to outsourcing business, Pharmaceutical & Biotech Outsourcing, Research & Development Expo & Conference (Pabord) offers a great opportunity for the partners in the industry.
Pabord 2005, the 2nd edition of this international exhibition, is scheduled to take place at Olympia 2, London on 14-15 September.
Over 200 companies engaged in contract research, contract manufacturing, contract development as well as consultants, trade magazines, providers of enabling technologies, intellectual property management organisations, human resource advisors are expected to showcase their products and services in the exhibition cum conference at this nerve centre of Europe.
Research and development executives, scientists and decision-makers from pharmaceutical, biopharmaceutical and biotechnology companies, business development executives and industry consultants include the visitors' portfolio.
This 2 day event will focus on promoting outsourcing activities across the entire discovery and development value chain including: compound screening, pharmacology, ADME, toxicology, medicinal and process chemistry, pharmaceutical formulation, GMP manufacture, analytical services, regulatory submissions, clinical trial management, informatics, intellectual property management and human resources.
The exhibitors are primarily companies that have a product or service to sell ie. providers of outsourcing solutions, such as: clinical research organizations, contract research organisations (CROs), contract manufacturing organisations (CMOs), contract development organisations (CDOs), consultants, providers of enabling technologies, intellectual property management organizations, human resource advisors, trade magazines, in the pharmaceutical, biopharmaceutical, biotechnology research & development sectors.
In the conference session, 36 leading authorities from the industry will address on how to develop effective outsourcing strategies.
According to official figures, 2546 professionals from 28 countries 202 companies participated in Pabord 2004, which took place at London's ExCeL Exhibition Centre in September last year. Of the 1664 different delegates, 1334 were from UK. Countries represented include Belgium, Netherlands, Spain, Germany, Finland, Switzerland, USA and Canada.
Pabord is designed with a view that the different stakeholders in the industry can listen and interact with the leading authorities on how to develop effective outsourcing strategies and deliver solutions to key discovery and development challenges.