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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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