The fact that sponsors and CROs have such wildly different incentives is the elephant in the room
Princeton, NJ (PRWEB) June 18, 2013
In 2013, the pharmaceutical industry will continue the downsizing of drug development operations, placing an ever greater reliance on strategic CRO alliances and collaborative technologies. As sponsors increase their dependency on CROs, the need for transparency between the two will increase as well. To explore this dynamic, Pharmica Consulting will be hosting its CRO Management Conference, which will focus on how sponsors and CROs can best collaborate. Also to be discussed is clinical operations technology and the impact it has on the overall partnership, and the future of integrating technology as a means towards enhancing the sponsor-CRO relationship. Lisa Zimmerman, Vice President of Clinical Operations at Pozen Pharmaceuticals, has been added to the agenda as a speaker.
“As VP of Clinical Operations Lisa has a somewhat unique high level view of this issue,” said Eric Lake, Partner with Pharmica Consulting. “Her talk about how sponsors and CROs have different mindsets and different incentives will reflect how she sees things from her position at Pozen.”
“The fact that sponsors and CROs have such wildly different incentives is the elephant in the room,” said Matt Kiernan, Partner with Pharmica Consulting. “In my mind this is one of the biggest issues that needs to be worked out if CROs and sponsors are to have an open and productive relationship. I’m really looking forward to hearing Lisa’s point of view.”
“Communication is critical in these partnerships, and this talk will certainly underscore that,” adds Maggie Adamski, Consultant at Pharmica. “Sponsors need to be clear about expectations – for example, when they say ‘we want quality data’, what does that mean exactly? And does the CRO define ‘success’ in the same way that the sponsor does? If not, the relationship can only end in disaster.”
Those interested in learning more about Pharmica Consulting’s upcoming forum or service offerings can visit http://www.PharmicaConsulting.com. To request additional information, please contact Eric Lake at 973-945-4482 or Greg Cohee at 215-579-1650.
About Pharmica Consulting -- Pharmica Consulting, one of the life sciences industry’s leading consulting firms, provides a variety of offerings designed to help pharmaceutical and biotech clients achieve true Operational Excellence. Consultants at Pharmica invest the time needed to truly understand a client’s specific challenges—and tailor solutions to help them create a more profitable business environment. Pharmica Consulting knows how to build effective strategies—and deliver against those strategies as promised.