The new report acknowledges that while 2009 was slow for many CSPs, the underlying reasons for pharmaceutical and biotechnology companies to outsource selected activities will continue for the foreseeable future. CSPs should continue to grow as the pharmaceutical industry moves towards a more flexible business model. Biomarker services and the need for larger clinical trials will provide opportunities for additional growth in future years. However, with the consolidation of the pharmaceutical industry and the continued trend of strategic partnerships between CSPs and their clients, many companies in the sector will be drawn to find new revenue sources.
"Outsourcing to contract organizations helps reduce the high costs and long lead times of product development while minimizing scientific and business risks," said Alisa Wright, president and CEO of Bloomington, IN-based BioConvergence. "Because of the growing needs for specific development functions that our pharmaceutical clients requested, we added service lines in 2009, including collection kit production and biorepository capacity. We plan to expand our services further in 2010."
With nearly 9,000 workers and more than 40 companies working in the CSP sector, Indiana is a national center for biopharma development and manufacturing. The state is one of only a few regions in the United States with a concentration of companies that excel in specialized and sophisticated drug development services such as contract research, contract manufacturing, and logistics. BioCrossroadsLINX was established in 2007 to develop and strengthen these Indiana drug development and manufacturing capabilities through e
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