Article | May 23, 2018

CRO Consolidations – A Boon for Pharma?

Source: Oracle Health Sciences
CRO Consolidations – A Boon for Pharma?

In human clinical trials, especially Phase III, represent by far the largest part of the substantial cost1 of bringing new drugs to market. Over the last several decades as the size, complexity, length, cost and globalization of clinical trials has continued to grow, the importance of contract research organizations (CROs) to the pharmaceutical and biotech industries has increased significantly. Outsourcing has become of popular way for pharmaceutical companies to utilize on-demand services to improve operational efficiency and therapeutic expertise, cut costs, and add more extensive geographic capabilities.

As demand for their services has intensified, the CRO industry has responded with a growing movement towards consolidation in order to expand capabilities and reach to service large global studies.