COVID-19 showed us the importance of improving the speed to market of new drugs such as vaccines. And with more challenges facing the industry than ever before, fast and reliable drug development has never been more vital.

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Take antibiotic resistance, for example. In the US alone,more than 2.8 millionantimicrobial-resistant infections occur each year, providing that many infections are becoming resistant to some of our most reliable antibiotics.

When the effects of this resistance start to worsen, we’ll rely on drug manufacturers to come up with an alternative – and fast.

But what happens when pharmaceutical companies are already stretched with their budgets and existing projects? And with businesses already struggling for staff, how will they hire a whole new team of highly-qualified experts when the moment comes?

That’s where outsourcing comes in.

But before we dive into the why, let’s explore the what.

What is Outsourcing?

Outsourcing is when one company hires another company with expertise in a certain field to help with a specialized project or aspect of running a business.

Typically, outsourcing is carried out on a contractual basis, so a business will hire team members from the outsourcing company for a temporary, defined period of time, or until a project is completed.

Outsourcing is on the rise, as is offshoring, in which companies use an offshoring company to hire a remote team in a country with lower wages to save costs. Here’s why outsourcing is revolutionizing the drug manufacturing and development landscape, and why it’s here to stay.

Improved Efficiency

Outsourcing companies specialize in one thing, and they do itwell. If a large pharma company with multiple conflicting projects decided to do the project in house, they’ll likely take twice as long as an outsourcing company that’s trained especially for particular projects.

Better Spending

Every business wants to keep costs low. And one of the biggest drains on any business’s budget is staffing. If companies need a team just for one project, they’re unlikely to hire a new workforce.

This, in turn, means important work is being overlooked, because companies simply can’t take on more full-time staff. That’s what makes the flexibility of outsourcing so ideal.

Instead of eating into a strict budget to hire a whole new team just for one project, companies can pay just for the help they need, by outsourcing to an expert manufacturing company. In fact, a whopping59% of companiesoutsource to cut costs, pointing to the scheme’s success.

Better Use of Technology

One of the key advantages of outsourcing companies is their focus. Instead of having fingers across multiple pies, companies that specialize in manufacturing and development can focus on doing just what they do best, without branching off into other business ventures.

That means large swathes of their budget go into acquiring the best tech needed for project fulfillment. Not only can pharma companies reduce staffing costs by opting to outsource, but they’ll reduce expensive equipment costs, too, from AI to automated machinery.

Photo by Trust “Tru” Katsande on Unsplash

Accessing Expertise

Outsourcing companies don’t hire just anybody; they seek experts with the skills needed to excel at their specialism.

Whereas staff members in larger companies have to master multiple tasks, outsourcing companies can focus on just one – successfully completing your manufacturing project.

Final Thoughts

Outsourcing brings undeniable benefits in any sector, but the advantages of this business model are especially pertinent in the healthcare sector.

The global aging population will contribute to a greater need for pharmaceutical drugs, and outsourced manufacturers can plug any recruitment gaps present in the industry.

Plus, pandemics are set to rise in the coming decades, which will increase the need for outsourcing to expertmRNA manufacturing companiesthat remove the guesswork and shorten lengthy development cycles.

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