By Paul Dupont, Ropack, Inc.
The expanding global pharmaceutical industry projects estimated revenue of $1.226 trillion by 2018. 1 The figure is impressive, yet it places significant pressure on pharmaceutical organizations to create new technology and innovative drugs – key drivers for success in the market. Added to the challenge is heightened demand from the educated consumer for convenience and increased safety in Rx and OTC drug packaging. In response, many in the pharmaceutical and biopharmaceutical industry worldwide are opting to focus on their core competencies and outsource their packaging, as confirmed by Contract Pharma's 10th annual outsourcing survey.
What to look for in a pharmaceutical packaging partner.
A contract packaging partner should function as an extension of the pharma’s organization, so careful consideration should be devoted to initiating this relationship. Globally, there are more than 2,000 pharmaceutical packagers competing for a larger share of the market. The challenge for pharmas, therefore, is to identify one which will advance the pharma’s products, assume the regulatory burden and ensure a competitive edge. Successfully recognizing that ideal outsourcing partner comes from careful scrutiny and well-considered questions.
Factors typically involved in making outsourcing decisions, according to Contract Pharma's 2014 Outsourcing Survey, place confidentiality, quality, consistent performance and cGMP compliance at the top of the list. Important, of course. Yet, often-overlooked qualities play a critical role in ensuring a productive partnership.