Life Sciences organizations are changing the way they develop, manufacture, and sell their products. To address ever-growing global markets and strong downward price pressure in developing countries, companies are integrating more third parties—such as development partners, contract research organizations (CROs), and contract manufacturing organizations (CMOs)—into their value chains. With all-too-often inadequate product pipelines, many companies are acquiring and integrating other firms to help drive innovation as well as improve operational efficiency and margins.
At the same time, regulatory agencies around the world are increasing their scrutiny of Life Sciences organizations. Not surprisingly, in a recent survey, 60 percent of Life Sciences executives stated that regulatory and legislative pressures are the most significant barrier to their companies’ growth. Ensuring compliance with tougher regulations—while maximizing productivity in highly distributed operations—is enormously challenging.