Trends in outsourcing
The trend for the outsourcing of pharmacovigilance activities to drug safety specialists is gaining momentum as companies both large and small are looking for ways to reduce costs in some areas in order to maximise the resources available for R & D. Pharmacovigilance activities are process driven making them ideal candidates for outsourcing.
A study of pharmacovigilance deployments has shown that substantial cost savings of 30-40% can be made by outsourcing pharmacovigilance
Ref: 'Pharmacovigilance in the New Pharma' Ron Fitzmartin and John Wise Touch Briefings 2010
It is estimated that more than 80% of pharmaceutical companies outsource at least one pharmacovigilance activity. The activity most likely to be placed in the hands of a pharmacovigilance consultancy is that of spontaneous case handling.
Main Reasons to outsource your pharmacovigilance function
Who would you consider outsourcing to:
There are 3 main types of companies offering pharmacovigilance services
All 3 types will offer a full suite of high quality pharmacovigilance services, however for CROs and BPOs PV is not the main part of their business and therefore you are less likely to receive the tailored and personal service that you will receive from a specialist drug safety monitoring consultancy like ours.
Each new client we take on is looking to forge a trustworthy and long lived partnership