#Pharma Outsourcing is all about Brand Sponsors collaborating with their partners across countries and continents, who not only compliment strong intellectual abilities of teams at the Brand Sponsor’s end, but also function as extended teams working towards delivering a shared value and a commitment to the society (you can also read this as shared-responsibility), at an overall level.
We, #Mosymphony team, fully agree with Miguel Forte, CEO, Bone Therapeutics, who detailed out three key attributes for selecting any #partner in the pursuit of development and manufacturing services. Forte says
- First of all, “you select a CDMO relationship based on quality, but also the ability to deliver that quality”
- Second is “the ability to interact, but I wouldn’t necessarily call it a cultural fit.”
- Third – as you may have anticipated – “is consideration of cost.”
“Contracting is part of what we do, because you must compliment what you know with what others know,” Forte explains of the emerging biopharma condition. “It’s that combination that delivers the best outcomes.” This necessitates biopharma’s need to “choose people who know more than you on a specific topic.” In other words, he says, “they have the competencies that compliment those you have.”
(do read the remaining part of this neatly written article from Louis Garguilo, Chief Editor, Outsourced Pharma, below)
“Nobody should work alone” – an outsourcing philosophy
Shared Value, mentioned up there, is an interesting phrase. Do you know who introduced the concept Shared Value? It was first introduced by Michael Porter and Marc Kramer in their Harvard Business Review article in 2011. And, we could see this invaluable concept in action, at the core of every Life Science and Pharma Manufacturing eco-system.
Patrik De Haes, M.D., CEO, Oxurion, says “once the technical scientific language and complicated regulatory issues are stripped down, the one goal each company ultimately shares is to give people a better quality of life. This makes life-sciences companies’ role in creating shared value unique and gives us the opportunity to be ahead of the curve when it comes to creating shared value,” he adds.
Creating shared value for the future
At #Schrocken, we work with our client teams to create shared value. For ex, we improve the supply chain through facilitating smoother, easier and faster collaboration…
This collaboration leads to lower inventories and faster delivery of medicines to markets.
Hope you have enjoyed reading both the links shared here on this post. We will share with you a few more gems, or posts on our own experiences/big learnings, in a while!
Till then, Take care and enjoy every day as it comes.
Namaste, Mosymphony Team