This New York Times report on the basis of the findings given by consulting firm Research and Markets has mentioned that 60% of industry executives feel that India will be the most attractive country for outsourcing. Along with rising costs and high risks the latest headache for bio pharma executives is, innovation. In its latest report Winning R&D Productivity Strategies has given in-depth analysis of current issues that affect R&D. The highlights of the findings of the reports are:
The largest share of the R&D spend by PhRMA members is in Phase III and prehuman/preclinical trials, and over 20% of drug failures in drug development have been attributed to toxicity concerns.
-- Target validation is predicted to be the main focus of licensing deals by pharma in the next 3 years.
-- The application of genomic technologies, such as biomarkers, offers the opportunity to save up to 34% of R&D costs.
-- 80% of industry executives believe that multiproduct licensing deals are set to increase over the next 5 years.
India is forecast to be the most attractive country for outsourcing by 60% of industry executives.
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