Pharmacy Industry requires shelling out huge amount of money to meet its requirements. There are challenges like spiraling research and development costs, and increased overheads. The only way to cut on expenses is outsourcing the job to third party service providers.
Multi-national companies in the pharmaceutical field are facing great challenges like spiraling research and development costs, pricing pressures, absence of blockbuster molecules and increased overheads. In this scenario, outsourcing of high end processes to third-party service providers is a viable strategic option adopted by them.