Finding the right contract manufacturer requires careful screening and a certain amount of time. However, pharmaceutical companies recognized the importance of choosing the right contract manufacturer so that the pharma company can concentrate its efforts and money on R&D and marketing.
A number of criteria should be considered before the pharma company decides on their contract manufacturer.
In this blog post, we bring you 7 factors that a pharma should consider before settling on the contract manufacturer.
The pharma company should find out the contract manufacturer’s know-how and expertise. This is most crucial in ensuring that the partnership would be smooth and there would be less hiccups.
The pharma company should also find out the portfolio of its contract manufacturer. A contract manufacturer with a full range of products will have the flexibility to address the need of the market. As such, the contract manufacturer should at least have a basic portfolio with the basic facilities.
How sophisticated is the contract manufacturer’s technology? Does the contract manufacturer have up-to-date technology or are they dated? These are some key questions for the pharma company to ask.
The contract manufacturer should have sufficient capacity to accomodate any surge in demands. The pharma company should find out if the contract manufacturer has a proper back-up concept. A conscientious contract manufacturer will ensure that they have more than one supplier.
5. Financial stability
How financially stable is the contract manufacturer? The financial stability of the contract manufacturer is a reflection of its history and growth.
Even with a whole range of facilities in place, with up-to-date technology and capacity, a contract manufacturer is rendered useless without a team of well trained scientists and engineers. They are crucial in ensuring the completion of the project.
7. Market scope
How positioned is the contract manufacturer internationally? A contract manufacturer that is well-positioned would be familiar with the different country’s regulatory systems and specifications. Having a contract manufacturer that is well-positioned saves the whole production a lot of time and effort.
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