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With constant economical pressure being imposed on the pharmaceutical industry across the globe many companies are experimenting with new methods that intend to cut costs while advancing the company itself. One new method being examined is outsourcing. Outsourcing within the pharmaceutical industry is characterized by the exportation of both pharmaceutical production plants and research development institutions. These facilities are often translocated to offshore regions across the globe. While it may seem that outsourcing plays little to no role in an everyday persons life this is quite the contrary. Everybody that consumes pharmaceutical products is affected by these industry shifts along with the people who work in the industry themselves. As an example drug quality may suffer and or improve due to outsourcing, which could result in the improvement or the hindrance of ones health. Besides that a myriad of jobs within the industry would be affected causing either turmoil or fortune for families across the globe.

While outsourcing may induce negative effects like loss of quality control, problems evaluating contractor performance, and dependence on offshore suppliers it has beneficial qualities that supersede the negatives. In fact outsourcing pharmaceutical companies will improve product quality, drastically cut company costs, and decrease the time it takes to research new products as a whole. Within this newsletter the pros and cons of outsourcing will be evaluated while also elaborating on alternate methods to outsourcing altogether.

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Outsourcing, is it feasible?

Outsourcing, a thing of the future?

March 26 2013

Volume 1, Issue 1

By: Merrick Calmer

Outsourcing and You

With the premise of outsourcing being the fact that one company is depending on another many communication problems may arise. One such problem is the difficulty of evaluating company performance and or loss of control over the secondary company. This may arise due to something as simple as bad communication and in turn may cause delays, product quality discrepancies, and trivial misunderstandings. (2) Due to the fact the CROs or Clinical Research Organizations (the companies being outsourced to) may have a various amounts of partners a subtle bias or disconnection with the mainland company’s ideologies may affect the quality of the product. Besides that if a mainland company becomes increasingly dependant on the supplier they may not only put themselves in a compromised position but also loose some of the skill sets that they once had.

Although Outsourcing has it’s hindrances it’s benefits tremendously out weigh them from both an industry and consumer standpoint. Outsourcing projects to CROs or allows the mainland company to display greater flexibility. This is because these mainland establishments may not have the skill sets, employees, resources or tools to take on the project themselves, thus they partner with a CRO. The fact that the CRO alleviates the burden of financing recourses, tools, and staff allows the company to cut costs and even reduce active employees. Besides that outsourcing allows these pharmaceutical companies to focus on the core values of their personal endeavors this is because many of the side projects have been imposed on CROs. Another positive aspect of outsourcing is the ability to work with offshore companies with the newest technology this improves scientific research, product quality and efficiency. (3)

With outsourcing being one of the most popular methods of strategic company advancement within the pharmaceutical industry it’s difficult for many alternatives to arise. Some available alternatives include the option of reevaluating your target therapeutic area. This suggests that as opposed to some companies who try to research and produce pharmaceuticals in all aspects of bodily health care, if you target one specific problem you will have more success. (1) Besides that this would allow you to cut costs because you would be focusing on a more narrow group of target people.

Negative effects of Outsourcing

Alternate means to Outsourcing

Positive effects of Outsourcing

Work Cited

Outsourcing and You

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Cohen, Jeff, William Gangi, Jason Lineen, and Alice Manard. STRATEGIC ALTERNATIVES IN THE PHARMACEUTICAL INDUSTRY. Kellogg School of Management, n.d. Web. 28 Mar. 2013.

Lowman, M.; Trott, P.; Hoecht, A.; Sellam, Z. Technovation. Feb2012, Vol. 32 Issue 2, p99-109. 11p. DOI: 10.1016/j.technovation.2011.11.004.

Piachaud, B.S. Technovation. Feb2002, Vol. 22 Issue 2, p81. 10p. 2 Graphs.

Conclusions

University of Central Florida

US

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calmermerrick@knights.ucf.edu

In conclusion although the negative aspects and possible alternatives to pharmaceutical outsourcing may deem the process somewhat unfitting the fact remains that the benefits it come with it are astounding. These benefits can alter the projected course of a company if practiced precisely and implemented efficiently.

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