Owing to the incessant increase in disease incidence rates and the lack of effective treatment options, the pharmaceutical industry is unable to cater to the growing demands across various therapeutic areas. Interestingly, recent developments in pharmacology and biotechnology have been able to drive significant advances and innovation in understanding the root causes of various diseases; this has further aided in the discovery and development of more targeted treatment strategies. It is worth noting that such advances in the healthcare industry have made the pharmaceutical development and manufacturing processes even more complex. Outsourcing has emerged as a prominent trend, especially for manufacturing and fill / finish operations, to meet the increasingly complex demands of the industry. The pharmaceutical contract manufacturing market is characterized by the presence of both niche, specialty companies, focused on early-stage development and production (preclinical and / or clinical scales), and one-stop-shop contract manufacturing organizations (CMOs) possessing an extensive range of capabilities, catering to product development, commercialization and various other requirements of their clients.
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The complete development of a pharmaceutical product is a multifaceted process and selecting a suitable CMO for outsourcing different operations is one of the main challenges faced by pharmaceutical companies. Despite the cost benefits they offer and their extensive technical capabilities, there are several parameters that need to be considered while selecting a CMO partner. The selection of a wrong / improper CMO partner can prove to be disastrous in the long run, when issues such as delays and cost overruns, crop up. Some of the most important factors that need to be considered while selecting a contract manufacturing partner include size, financial stability, technical expertise, cost, operational flexibility, geographical location and work experience.
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