By Devan Patel, Senior Director, Project Management
Outsourcing in the pharmaceutical industry is vital in delivering capabilities and capacity for biopharma companies as they face increased competition fueled by innovation and rooted in a better understanding of patients and their needs. The industry has recognized for some time the value of contract development and manufacturing organizations (CDMOs) to reliably deliver drug substances and products.
Several years ago, the global pharmaceutical outsourcing market was valued at over $70billion with an expected annual growth rate of 6.6% 1. We estimate that on any given day, hundreds, if not thousands, of outsourcing projects are being carried out.
When surveyed, biopharma companies typically cite CDMO selection criteria that falls under the heading of capabilities and capacity. Does the CDMO have the technical know-how™ I need, and can they do the work on my timeline? However, project management operations serves as the conductor that advances projects unimpeded. With the significant amount of outsourcing being done by the pharmaceutical industry, we believe project management has earned the right to be a critical factor in CDMO selection and deserves some exploration and understanding.
Over our 26-year history and having successfully completed over 400 development projects, Pii has developed and refined project management operations to ensure outcomes are achieved and client expectations are exceeded. We have found that excellent project management has seven distinct features.