The Pharmaceutical manufacturing industry was at one time the darling of the business world. With staggering profits and highly regarded reputations, Pharma was the envy of the global business community and the model which most others tried to replicate. However, increased regulatory and pricing pressures have forced Pharma to look at their business differently than in the past. With limited growth in the domestic market, Pharma is looking to expand into emerging markets while at the same time, gain efficiencies to reduce their cost structure. As such, the concept of outsourcing non-core business functions has gained significant momentum within the realm of Pharmaceutical manufacturers. While being more pervasive in other industries for quite some time, Pharma is now exploring numerous options relating to reducing their cost base and to gain efficiency in their overall business operations. In making evaluations related to this trend, outsourced procurement organizations can provide to be very valuable to corporate entities.

Contributors: Infosys
Categories: Whitepaper
SRC Type: Category Specific, Healthcare, Outsourcing, Procurement Outsourcing / Transformation