Pharmaceutical companies are all too aware of the skyrocketing price of bringing any new drug to the market. To help to offset these costs and the time involved from concept through to approval, most companies choose to partner with a contract manufacturing organization or CMO. Pharma companies find this an increasingly essential way to save thirty percent or more of the cost of in-house development, testing, and manufacturing.
The CMO pharma companies selected will be critical. As in any type of industry, there are companies that are capable of providing the services required and those that may have challenges in meeting the timeline, services and the expertise requirements of the pharmaceutical company.
There are several factors that any pharmaceutical company should consider before entering into this type of partnership. When there is the correct CMO, the pharma company will find they experience several benefits.
Ability to Streamline the Process
With an experienced, reliable and proven CMO, the pharma company will find a more streamlined process from concept development through approval and scalable manufacturing. This is critical as delays at any step can significantly hamper the pharmaceutical company’s ability to corner the market.
Meeting Pharma Needs
Each pharmaceutical company will have its own range of in-house expertise and experience. It is important to find a CMO that can provide the support needed in the areas of weakness or deficiency within a company in a way that is collaborative and meets the specific identified needs.
In some cases, despite the ability of the contract manufacturing organization to take a drug from pre-formulation through to packaging, perhaps all that is required is the development of a dosage method and the packaging.
Knowing what is required is essential in partnering with the right CMO for the project. Taking the time to consider all aspects of the development of the new product as well as the current resources will always be the starting point in this critical partnership.
