As drug companies lose patent protections, they are laying of thousands of employees across the world. Contract research organizations (CRO) saw possibilities in the trend. The numbers of such firms- who handle research or clinical trial for pharma and biotech companies – have thus substantially increased nationally, especially in Massachusetts. The trend is not new, it has been around for years, it's only recently got momentum.
CRO contracts range from under $100 for a simple analysis to millions of dollars over a couple of years for management of a clinical trial, through either a flat or monthly fee, depending on the client.
Biotechnology startups are also relying more on CROs to stretch valuable venture capital cash
Three years ago someone suggested not calling it outsourcing. Call it partnership or strategic sourcing.Things have changed since then a lot.
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