With the rise of outsourcing pharmaceutical activity it is said that contract manufacturing accounts for 30% of a company’s total manufacturing activity and is currently worth $39bn a year. Although, demand for contract manufacturing is growing, budgets are becoming tighter as we all race to achieve better ROI and manage costs more efficiently. The modern day contract manufacturing organisation (CMO) is now a key strategic partner providing access to new markets, new products, greater capacity and innovative technologies for both small-scale and large scale primary and secondary manufacturing. Ahead of the Global Pharmaceutical Contract Manufacturing Summit, Pharma IQ takes a closer look at global CMO market drivers and restraints and the evolution of the modern day CMO.
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