In recent years, as China’s medical device technology progresses and the innovative drug market is booming, as well as the maturity of the supporting industrial chain and the promotion of relevant national favorable policies, China’s pharmaceutical manufacturing industry has maintained a strong growth momentum. Numerous small and medium-sized biotechnology companies and various pharmaceutical companies are actively carrying out medical innovations, starting to enter the global market, and showing their steadily increasing competitiveness in the international environment.
When innovation gradually becomes the main theme of the industry, innovative drugs will undoubtedly become an important direction for the transformation of many enterprises. At the same time, the rapid development of the industry has also brought many uncertainties and challenges. In this context, the CRO market has grown rapidly. In order to solve many problems, to deal with the increasingly strict approval of new drugs and the complexity of new drug research and development, pharmaceutical companies have begun to seek cooperation with CRO companies to help them complete their research and development work. However, compared with the maturity of CRO markets such as Europe and the United States, the development of China’s CRO industry started relatively late, and many Chinese pharmaceutical companies have confusion or difficulties in how to choose CRO companies.
Premier Research, a global clinical research CRO company established in 1989, has been providing Chinese customers with full-process services from the clinical research phase of new drugs to the commercialization of new drugs since entering the Chinese market in 2019, and has extensive experience in meeting the needs of local customers. The expert team of Premier Research summarized the strategy of CRO selection especially for domestic biotechnology and small and medium pharmaceutical companies.
1. Why cooperate with CRO?
The research and development of new drugs is not only costly and long, but also has strict supervision and low success rate. At present, China’s medical industry generally suffers from insufficient R&D capabilities, relatively poor R&D infrastructure and conditions, weak ability to transform scientific and technological achievements, and lack of understanding of the international regulatory environment.
Faced with changes in the industry, pharmaceutical companies choose a suitable CRO company to cooperate and let more professional people do professional things, which can help reduce R&D costs, shorten R&D time, improve R&D quality, and reduce R&D risks. At present, mainstream CRO companies in the market mainly provide pre-clinical CRO and clinical research CRO services, and a few companies have comprehensive service outsourcing capabilities.
2. Choose the gold standard for CRO
Generally speaking, the choice of CRO can be considered from four important criteria:
(1) Expert team
Including whether the CRO company has senior experts corresponding to the R&D project, whether the organizational structure and the division of labor are clear and reasonable, and whether the project is assigned a dedicated service team.
(2) Management system and equipment
Including whether it has a professional project, quality and compliance management system, whether the equipment meets the project requirements, whether there is a professional data management system, etc.
(3) Project related experience
Whether they have extensive experience in related fields to help avoid risks in advance, so as to ensure the progress of the project.
(4) Familiar with the Chinese market
Do you fully understand the needs of local customers and the differentiation of the regulatory environment to ensure the accuracy and high quality of the application materials?
3. “Small and beautiful” global CRO is more suitable for small and medium pharmaceutical companies
When faced with a CRO decision, small and medium-sized biotech companies and pharmaceutical companies often find that large international CRO companies can provide high-quality services but are expensive and unfamiliar with the local market; while some emerging local CROs may be reasonably priced, but often There are problems such as insufficient talents and low professionalism.
Ming Pei, head of business development in Greater China of Premier Research, who has been in the field of pharmaceutical R&D for more than ten years, said, “In recent years, based on the general feedback from local innovative pharmaceutical customers, on the one hand, they have a strong understanding of CROs with global coverage and global experience. Continuously high demand; on the other hand, they are no longer satisfied with the process operation of large CRO companies, but have higher requirements for customized customer experience. Due to product development in different fields, experts in the corresponding fields are needed to help Therefore, there is no need to blindly pursue the comprehensive capabilities of large global CRO companies. At this time, a’small and beautiful’ global clinical research CRO is a better choice.”
“Small but beautiful” customized strategy helps pharmaceutical companies to innovate and go global
The “small and beautiful” global CROPremier Research has grouped professional teams in the field of focus, and has truly realized the concept of “let professional teams do professional things”.
Since entering the Chinese market, Premier Research has been focusing on helping Chinese pharmaceutical companies “go global”. Compared with domestic CROs who use the “subcontracting” model to complete overseas clinical business, Premier Research has professional teams in major countries and regions around the world, and its model for undertaking overseas clinical research projects has become more complete and professional. Compared with large-scale international CROs, Premier Research pays more attention to customer experience. According to the characteristics of each customer, it will formulate the best strategy of “small and beautiful” to meet the individual needs of different customers.
As a global clinical research CRO company, Premier Research focuses on the global registration of biomedicine and medical devices and the full service chain of clinical research, with businesses all over the world. The CRO services it provides basically cover all the tracks of biomedicine, including tumors, skin diseases, mental diseases, rare diseases, pediatrics, cardiovascular, etc., as well as related test services for medical devices. Go to the Premier Research China website (insert CN site) or follow the official WeChat Premier Research for more information.