NEW YORK--(BUSINESS WIRE)--April 20, 2004--The 13th Annual Partnerships(TM) with CROs & Other Outsourcing Providers conference is set to convene on April 26-28 in Orlando, Florida, where a record number of biopharmaceutical research and development professionals from around the world will gather to address some of the most critical issues affecting the safety, speed and efficiency of drug clinical trials.
At least 1,100 clinical research professionals from around the world--more than double last year's conference turnout--will convene at the Caribe Royale All-Suites Resort & Convention Center to address the challenges posed by the increasing reliance on R&D outsourcing for the development of new therapies.
Pharmaceutical and biotechnology companies are projected to outsource approximately $9 billion in 2004, nearly 25% of their total R&D expenditure, and the share of outsourced R&D is expected to grow. As vendors of contract research organizations are becoming a strategic asset, Pharma and biotech companies are considering significantly different business models to maximize the return on investment of outsourced R&D.
"In light of the large and growing share of outsourced R&D, the next wave of productivity gain of pharmaceutical and biotechnology companies is to maximize the value of their vendor relationships. Few sponsors have considered radical changes to the business model," said Jim Powers, PRA International's Executive Vice President of Business Development. "For example, elimination of redundant activities of the sponsor and CRO can reduce cost and free sponsor resources to work on additional development programs. To gain greater productivity from their CROs, sponsors should consider steps to integrate CROs as an extension of their operations, without repeating work functions. Even better, sponsors might consider accepting CRO processes and focus on key milestones instead, such as patient recruitment or database completion. IIR's Partnerships conference is an increasingly important forum to explore such models."
"We are observing a clear shift in contracting models where there is a more shared risk and reward," said Dr. Gil Price, CEO, Drug Safety Solutions. "This is a complex, service-oriented business with complex goals and demanding timelines. There are various contracting models that exist between sponsors and CROs and one magic template does not apply. I have been attending the Partnerships conference for several years and it has always served as a serious forum to explore efficiency and cost-effectiveness through better understanding of the outsourcing model."
About Partnerships with CROs
Partnerships(TM) with CROs & Other Outsourcing Providers is organized by the Institute for International Research (IIR), the world's largest conference company. For 12 years running, IIR has provided a knowledge-led networking forum for the CRO industry where senior professionals from outsourcing and clinical groups at pharmaceutical and biotech companies, CROs, niche providers and investigative sites convene to maximize clinical development partnerships. To learn more about the Partnerships with CROs conference, please tune into a special broadcast by the BioTech Today radio show (www.biotechtoday.net) on Wednesday, April 21 at 3:00 p.m. Eastern. BioTech Today is dedicating the entire show to the Partnerships with CROs conference and five of its speakers.
The event plus expo attracts over 1,100 influential professionals from the U.S. and abroad each year and has held strong to an emphasis of presenting best practices in creating, managing and sustaining clinical outsourcing partnerships that focus on real strategies for turning these clinical outsourcing partnerships into strategic alliances within the ever-evolving Pharma/CRO environment.
The success of the forum is due to its dynamic structure that includes varied and non-traditional networking and learning opportunities, led by a speaking faculty of over 130 industry experts. Through panel and group discussions, five concurrent tracks, interactive voting, eight pre-event in-depth workshops, lunch and learn roundtables and networking breaks and receptions, participants are exposed to different perspectives and have several venues from which to gain value from the event. More information can be found at http://www.cropartners.com.
Institute for International Research Shari Gelfand, 212-661-3500 x 3218 firstname.lastname@example.org or
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