The free to attend series for all C-Level, VP-, and Director-level delegates from pharma, biotech, and medical device companies helps bring together local clinical-stage biotechs with local (but also nationwide) CROs and service providers.
The Outsourcing Clinical Trials Series now operates, no less than, 11 events across the US, Europe, and Canada, providing the platform for in-depth discussion into current issues within vendor selection, clinical trial agreements and service-provider management. Mastering the outsourcing process is not an easy feat. Continuous improvement and development is needed to ensure that sponsors stay on top of their service providers. Legally, the sponsor is still fully responsible for every aspect of the clinical trial, even if it is run by an external partner making the need for learning imperative for all those operating within the industry.
The agenda for the OCT series has been designed in close collaboration with industry experts, to ensure that relevant and timely topics are covered in-depth at the conference. With plenary sessions, panel discussions and roundtables, the OCT series presents itself as the perfect forum for in-depth discussion into current issues within vendor selection, clinical trial agreements and service-provider management.
Considering an estimated $133 billion is spent on clinical trials worldwide, with outsourcing making up a large chunk of the budget at approximately 62%, it has never been more crucial to understand and optimize outsourcing policies.
With billions of dollars on the line the Outsourcing Clinical Trials series has been helping shape the industry and aid decision making with a unique platform for discussion amongst only the highest level delegation available.
Ultimately it is these decision makers that dictate spending, and with so much at stake it remains imperative to get these critical decisions correct.
Pharmaceutical manufacturers face significant pressure to continually develop new drugs. Patents on drugs expire after 20 years, after which generics firms can produce cheap copies, significantly reducing the market share of the original manufacturer. This ultimately has a huge impact on both large and small companies, making it imperative to be adding new drugs and concepts into the new drug development pipeline. However, new drug development takes on average, 15 years to complete at a cost close to $1billion.
Large pharmaceutical companies are faced with the constant challenge to cut costs; and outsourcing is the key decision many make in order to achieve efficiencies. Many of these companies have outsourcing strategies in place so look to the Outsourcing Clinical Trials Series to introduce them to new and innovative strategies that can make the process more efficient. For the smaller companies, many of which are on the complete opposite of the spectrum, the need is to shape their ‘outsourcing identity’. Discovering which model is most effective for them is vital to their overall success and aids in increasing their chances of bringing a new drug to market.
The key draw of outsourcing clinical trials is that CROs often make the process cheaper and more efficient ultimately allowing the pharmaceutical companies to invest more time and resource into development of new drugs, cures and devices that can help shape health for years to come.