Mumbai, Maharashtra, India
Frost & Sullivan, a global growth consulting company is organizing a premium event, "CRAMS SUMMIT 2007: Emerging Opportunities and Business Models" at The J W Marriot Hotel, Juhu, Mumbai, India, on April 27th 2007.
The success of a pharmaceutical company is measured by its ability to develop and sell compounds, with focus on research and development and marketing. The evolution of the global life sciences landscape has led to increasing challenges for healthcare budgets leading to thrust on controlling healthcare costs and therefore drug expenditures by governing bodies. This has compelled the traditional pharmaceutical industry participants to revisit their value chain and reflect on strategies that can optimize their competencies to function in the increasingly competitive sector and fulfill the demand for better and economical drugs.
A partnership strategy in such a scenario proves to be an effective tool for leveraging risk, multitasking, and enhancing abilities to adapt to the dynamic conditions. More than ever, pharmaceutical companies are partnering with specialist firms to compress the timeline for drug development, thereby decreasing their overall drug development and commercialization cost as well as gaining access to new drug entities.
Many leading players have built networks of biotechnology and academic research relationships to balance risk and gain access to new technologies. Over 2,600 deals have been signed by the top 20 pharmaceutical players alone, in a span of two decades. Thirty percent of these have been inked in the past 3 years, a clear indication of the increasing importance of partnerships in recent times.
Pegged at US $57 billion and growing at 10%, the alliances and outsourcing services market has exhibited a consistent double-digit growth for the past five years! And the market is further expected to grow to $69 billion strong by 2009.
Advantage India: "Alliances and partnerships have gained importance across the global life sciences industry and the growing focus on India as a key service providing hub has thrown open a plethora of opportunities for life sciences companies in the country. In such a scenario, the ability to identify critical areas for providing services, and the right business strategy to support it would be the differentiating factor to create successful alliances for Indian companies. While individual efforts at the company level to evolve this success mantra are already in progress; they put in perspective the internal aspirations of a company and processes to achieve the same, which may limit the probability of success.Additionally, it provides a global platform, which provides the right combination of gaining real time operational learning's from experts in the domain, as well as key decision makers of potential customer companies who add the external perspective and thereby make the process of positioning oneself in the alliances domain more objective and successful" says Jayashri Kulkarni, Director, Healthcare Practice, Frost & Sullivan India Pvt. Ltd.
This is the focus of the premium event titled "CRAMS SUMMIT 2007: Emerging Opportunities and Business Models". A gathering of experts and leaders from Indian and Global Life Sciences Industry, the conference shall serve as a conclave of thought leaders and insights into their learning's and also serve as an ideal platform for networking and initiation of business partnerships. With international participation expected from leading pharmaceutical companies, contract service providers could use this as an opportunity for knowledge exchange in the areas of R&D, strategic partnership and outsourcing, emerging technologies in drug manufacturing, custom synthesis, clinical research, marketing and distribution, global leadership, and many more.
The one day conference will culminate into the "Partner of Choice Awards 2007". These awards recognize the best of/in Indian Research and Manufacturing Services Capabilities in Life Sciences and assess Global Competitiveness. They acknowledge the best life science facilities in India that have achieved and sustained excellence in their industry value chain component. The facilities that are commended as award winners are those with the diligence, perseverance, foresight and dedication required to develop a successful organization and sustain continuous learning to be the true Partners of Choice. The awards will be presented at The JW Marriot Hotel, Juhu, Mumbai, India.
India has emerged as the Outsourcing destination in the world along with China and Eastern Europe; this has led to additional emphasis on compliance to global standards in IP and regulation. In such as scenario there is a compelling need to identify and arrive at benchmarks set by global and domestic CRAMS providers in order to:
- Highlight best practices in India
- Highlight areas of strengths and advantages in India
- Highlight areas of improvement that can provide incremental leverage to service providers in the Global market
The "Partner of Choice Awards" awards will identify these benchmarks and recognize these companies for the efforts that have made them the "Partner of Choice" for global sponsors. It will also provide an ideal platform for networking and initiation of business partnerships.
The awards will be presented under the following 3 broad categories:
- Drug Discovery and Preclinical services: Discovery platforms, broad-based screening, bioanalytical services, chemistry services, genomics, therapy areas.
- Clinical Development: Phase I through IV, data management, bioequivalence-bioavailability
- Manufacturing: Formulations- Orals, liquids, sterile dosage forms
About Frost & Sullivan: Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 45 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com
Shwetha Thomas, Corporate Communications, Frost & Sullivan, +91 (022) 4001 3429 sthomas@frost.com
Nimisha Iyer, Corporate Communications, Frost & Sullivan, + 91 (022) 4001 3431 niyer@frost.com
Source: Frost & Sullivan (Business Wire India)
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