Previous
Pharmaceutical Companies Outsourcing - China
Added: (Fri Oct 26 2007)
Outsourcing is considered as a ladder to success and a door to gain profits in every kind of business field. Companies have gained benefits whenever they have stepped in the outsourcing field. One of the reasons why companies turn to outsourcing is because they view it as the solution for their problems. Apparently, this was also the reason why the pharmaceutical industry opted for outsourcing.
As per the data monitor, the issue regarding low productivity in R&D pushed the pharmaceutical companies to think about opting outsourcing in hope of gg high production level in terms of research and development. Besides this the pharmaceutical industry also adapted a “network pharma model” which consist of four primary goals that are in-licensing, out-licensing, collaborations, outsourcing.
Though outsourcing was viewed as the solution to their problems, many people are concerned when it comes to the intellectual property rights of companies who outsource. In order to emerge successful in outsourcing the companies were In search of a good place. Pharmaceutical outsourcing in China was given a green light by one of the biggest pharmaceutical companies in the world that is Glaxo Smith Kline. There are two main functions in outsourcing pharmaceutical tasks in China. these main two tasks are:
Being a service provider and Being a drug provider.
Dr Luo Ying, president and CEO of Shanghai Genomics shared the country' main goal stating that "China's goal is not to be a service lab for the rest of the world. The government wants to encourage the development of domestic IP."
China has been a controversial place to do business lately because of the issues surrounding this manufacturing hub. it is still doubtful if China would reach their goal partly because of t issue that they have to face in the present time in accordance with their “quality” work.