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Choose Wisely My Friend- Survey Says, Identifying the Right R&D Partner is the Most Challenging Aspect of Outsourcing Market

March 2, 2015
A recent survey conducted by BIO confirms the increasing reliance on R&D outsourcing as biotech and pharmaceutical companies indicate speed, flexibility, and access to specialized resources drive pipeline strategies/decisions.  Despite these biopharma companies having veteran teams with outsourcing experience, our survey results help quantify inefficiencies facing nearly every relevant organization.

The survey polled a group of small biotech companies about their experience with CROs and other contract service providers.  Over 80% of the companies surveyed were actively outsourcing portions of their pre-clinical or clinical pipelines.  Nearly two-thirds of the companies surveyed dedicated more than 20% of their entire budget to these services in 2014.  In addition, every company surveyed plans on maintaining or increasing their contract service budget over the coming year.

Of the companies surveyed that are outsourcing their research work, searching for and identifying the right service provider is the most challenging part (p = .026) of the sourcing process.  In fact, over 90% of the companies surveyed take more than 1 month to find an appropriate vendor for their contract research, and many report taking 6 months or even longer.  Clearly the time invested in finding the correct partners can compromise access to the high quality specialized services typically associated with outsourcing.

To help reduce this inefficiency in a growing marketplace, BIO has launched BIO BizLink, an online platform powered by OnDeckBiotech that serves as a peer-rated database for contract manufacturing organizations (CMOs) and contract research organizations (CROs) and their specific capabilities. BIO BizLink allows users to search for specialized services, and OnDeckBiotech conducts the review needed so its vendors offer high quality services.  The platform also provides secure project management tools to help companies work seamlessly with their new business partners. It’s free to sign-up, and easy to use.

Contact us if you would like to learn more about BIO BizLink or confidentially share your own experiences with contract service providers.