INDIANAPOLIS, Feb. 10 /PRNewswire/ -- Indiana's contract pharmaceutical research and manufacturing companies continued to expand in 2009, despite challenges in the biopharmaceutical contract service sector due to the downturn in the economy, the prospect of healthcare reform and other market developments. New service providers were established, facility expansions were announced, and service line extensions were added by companies such as AIT Laboratories, BioConvergence, BioStorage Technologies and Covance.
In an updated survey on biopharmaceutical market developments, Industry Developments in U.S. Biopharmaceutical Contract Services, BioCrossroads highlights evolving trends in the contract service sector, including the industry-wide drive for pharmaceutical and biotechnology companies to lower costs, access specialized services and increase flexibility through outsourcing work to contract service providers (CSPs). This new report supplements the major sector study prepared by BioCrossroads in 2008, Biopharma Discovery and Development Contract Services – Indiana Market Opportunities and Funding Options.
"We believe the outlook for the biopharma contract service sector continues to be positive, particularly for Indiana's pharmaceutical development and contract manufacturing companies," said David Johnson, president and CEO of BioCrossroads, Indiana's public-private collaboration for investment, development and advancement of the state's signature life sciences strengths. "The emergence of fully integrated pharmaceutical networks (FIPNETs) has changed the landscape and accelerated the pace of pharmaceutical product development. The trend of outsourcing that we predicted in our 2008 BioCrossroads stud
Copyright©2010 PR Newswire.
All rights reserved