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The International Council on Harmonisation of Technical Requirements for Registration of Pharmaceuticals for Human Use, a 2015 Swiss NGO of pharmaceutical companies and others, defined a contract research organization (CRO), specifically pertaining to clinical trials services as: [8]: 10 "A person or an organization (commercial, academic, or other) contracted by the sponsor to perform one or ...
A contract manufacturing organization (CMO), more recently referred to (and more commonly used now) as a contract development and manufacturing organization (CDMO) to avoid the acronym confusion of Chief Medical Officer or Clinical Monitoring Organization in the pharma industry, is a company that serves other companies in the pharmaceutical industry on a contract basis to provide comprehensive ...
The pharmaceutical industry uses this process with CMs called contract manufacturing organizations, constituting a $14 billion business segment around 2022. [2] In the semiconductor industry, this practice is called the foundry model. Contract manufacturing is specially prevalent in the electronics industry.
The Outsourcing Facilities Association, another industry group that represents compounders that produce large batches of medications, has sued to overturn the FDA's decision.
In 1998, Quintiles becomes the first company in the industry to break the $1 billion mark, when it reports net revenues of $1.19 billion. In 1999, the company joins the S&P 500 Index. In 2003, the Board of Directors agrees to merge with Pharma Services Holdings Inc; Quintiles becomes a private company.
Earlier this month the US Food and Drug Administration removed a top weight-loss drug from its shortage list, threatening the business of GLP-1 drug compounders and some telehealth providers.
Pharmaceutical Product Development (PPD) is a global contract research organization (CRO) providing comprehensive, integrated drug development, laboratory and lifecycle management services. In December 2021, PPD became a wholly owned subsidiary of Thermo Fisher Scientific .
The BPO industry in the Philippines generated $26.7 billion in revenues in 2020, [212] while around 700 thousand medium and high skill jobs would be created by 2022. [213] In 2015, official statistics put the size of the total outsourcing industry in China, including not only the BPO industry but also IT outsourcing services, at $130.9 billion ...