Pharmaceutical and biotech companies are dealing with a paradigm shift in drug development as the industry embraces more personalized, complex, and expensive cell therapies.
With some therapeutics proving ineffective in as many as 75% of patients, the need for precision medicine is clear, as is the benefit of using selection biomarkers in the drug development process where success rates can triple. Consequently, companies are balancing the increased demands for unique, esoteric testing with budget restrictions and geographical coverage.
In the quest to accelerate drug discovery to market and reduce costs, the industry continues ever further with externalization and outsourcing of drug development. Outsourcing penetration is expected to expand, as pharmaceutical and biotech companies must continue to replenish their pipeline and, hence, are incessantly looking for new sources of innovation.
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