The outsourcing market is booming and more and more companies are relying on external firms to save on costs and improve efficiency.
Indeed, outsourced pharmaceutical R&D spending is set to increase at twice the expected rate of general R&D expenditure for the next five years, according to recent data, and in particular outsourcing clinical trials is seen by many pharma companies as a means to make the process cheaper, quicker and more efficient.
However, companies that think transferring an operation to an overseas provider is a trouble-free, straightforward task can get a rude awakening, warns new research published in the Wall Street Journal (WSJ), and companies often find that their high hopes about cost savings and greater efficiency don't pan out.
