< PreviousOUTSOURCING 30 Pharma Business International www.pbiforum.net than handling things in-house. This isn’t only because of obvious economies of scale, but, again, from recruitment issues. Recruitment is one of the more costly aspects of running a business, and when one combines the expected costs of running a department (R&D for instance) and adds the cost of recruiting and maintaining a team for it, the cost benefits of outsourcing to an R&D company which already has a team becomes obvious. For specific avenues of outsourcing (R&D again serves as a good example) there are also ever-changing legal challenges to consider. Changing landscapes of regulation can be frustrating to navigate, and once more leaving that to an outsourced professional is an attractive proposition for many companies. Whether a company is looking to outsource responsibility to take advantage of a company’s resources or to free up their own staff to take on tasks more suited to adding value and earning profit is immaterial, however, as what is important is knowing how to manage outsourcing in an efficient and effective manner, as a piecemeal approach to outsourcing is likely to cause more problems than it solves. It’s important to select a partner that will take responsibility for any process or portfolios they are entrusted with, and preferably one with proven experience. This is obvious given that a new drug or portfolio is a company’s most important asset, and intellectual property is a tricky business at any stage – an outsourcing partner must therefore be prepared to take on responsibility as if it were their own. The important thing to remember is that even though duties are outsourced, they are still working for you and in your interests, which means KPIs and other targets do still hold. Accurate monitoring and analysis of how an outsourcing partner is performing should be performed at regular intervals. A good partner will provide that information when asked, and sometimes even when not. Outsourcing is both an opportunity and a risk, but it is one that is becoming more common across the pharma industry as employment opportunities outstrip employees. This challenge is unlikely to end any time soon, so it is best companies adapt sooner than later.Pharma Business International 31 www.pbiforum.net OUTSOURCING © stock.adobe.com/peopleimages.comRNA-Targeted Drug Discovery & Development Summit 10 - 12 December Boston, USA Unite with 100+ RNA Science, Medicinal Chemistry, Structural Biology & Biophysics experts from the likes of AstraZeneca, Sanofi, Novartis, PTC Therapeutics, ReviR Therapeutics, Rgenta Therapeutics, Accent Therapeutics and more at the most comprehensive and definitive event for the community, the 7th RNA-Targeted Drug Discovery & Development Summit, to accomplish faster and smoother translation of RNA targeted therapies towards the clinic. Medical Device Software Development Summit Europe 27 - 29 January Munich, Germany Dedicated to unravelling a matrix of multi- layered European and global regulations, Pharma EVENTS © stock.adobe.com/Syda Productions © stock.adobe.com/Mike Mareen 32 Pharma Business International www.pbiforum.net CPHI Middle East 10 - 12 December Riyadh, Saudi Arabia CPHI Middle East is the region’s most complete pharma gathering, with key players forging strategic partnerships with regional drug manufacturers and global suppliers across the entire pharma value chain, unlocking unparalleled growth opportunities. opportunity to connect directly with a diverse range of professionals in the medical laboratory industry. This event not only helps you strengthen existing relationships but also opens doors to new networks and opportunities for growth. mitigating vulnerabilities in security, and managing updates to legacy devices, the 3rd Medical Device Software Development Summit Europe is uniting medical device giants and innovative start-ups to share case studies and best practices in advancing and maintaining compliance of innovative software. Tumor Models San Francisco Summit 29 - 30 January San Francisco, USA Reuniting 180+ Preclinical, Translational, Discovery, Pharmacology, and Biology experts to share case studies in improving target selection, facilitating biomarker discovery, and achieving clinical translatability, the 9th Tumor Models San Francisco Summit is the definitive industry forum uniting the West Coast ecosystem of pharma and biotech to collaboratively advance the frontier of oncology research to the clinic. Medlab Middle East 3 - 6 February Dubai, United Arab Emirates Medlab Middle East offers a unique DigiPharma Connect 10 - 12 March Savannah, USA DigiPharma Connect is an intimate forum where senior digital marketing executives from top pharmaceutical companies can come together for exclusive networking with their peers and to source solutions from leading providers. Advanced Therapies UK 18 - 19 March London, UK Advanced Therapies UK is Europe’s largest commercial cell and gene conference and exhibition. Bringing together over 2,500+ industry experts, it is an event for the leaders of pioneering ATMP companies and their senior executives, who are in charge of the latest tech and strategies driving the industry forward. www.pbiforum.net Pharma Business International 33 Pharmapack 22 - 23 January Paris, France Pharmapack is the leading European event for Pharmaceutical Packaging, Drug Delivery, Medical Devices and Machinery. In the past 25+ years, the event has grown from a conference with a small table-top exhibition, to an event hosting 300+ exhibitors and welcoming attendees from 75 different countries. © stock.adobe.com/RFBSIP Patient Recruitment for Rare Disease Trials Summit 10 - 12 December Boston, USA The Patient Recruitment for Rare Disease Trials Summit serves as the premier event for experts in patient recruitment, advocacy and clinical operations to unite in order to navigate cost-efficient, patient centric recruitment to expedite enrolment in rare disease trials. Don’t miss the chance to collaborate with industry experts working towards a common goal: ensuring that patients with rare diseases have access to life-changing therapies.FEATURES Laboratories Microbiology and R&D Pumps & Fluids Sorting & Weighing Health, Safety & Hygiene Next issue: Deadline - 5th February 2025 REGULARS News Events M&A Round-up Eye On Approvals Visit us at www.pbiforum.net where you’ll find the latest news as it breaks – and why not subscribe to our newsletters so you can have the latest news emailed to your inbox, in between digital issues? @pbiforumwww.pbiforum.netcompany/pbiforumNext >