Abstract
Pressure for life science companies to reduce costs has risen significantly
over the last five years. The industry has been hit by a double-edged sword, as
drug patents expire, product pipelines need bolstering and generic companies
continue to encroach on branded pharmaceutical companies' market share. These
issues, coupled with a sense of urgency to protect gross margins, have driven
pharmaceutical companies to examine IT outsourcing and offshoring with
increased interest. Eric Newmark, a research manager with Health Industry
Insights, said "With drug development now averaging over $1B and 12-15 years
per drug, every hour and dollar saved truly counts. IT outsourcing has become
an essential component for every pharmaceutical company to reduce costs,
automate processes, and ease global expansion." This report provides detailed
analysis of the top 12 vendors in the life science manufacturing and supply
chain IT outsourcing market.
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