Contract Research Organizations (CROs), Contract Manufacturing Organizations (CMOs) and Contract Development and Manufacturing Organizations (CDMOs) offer outsourced services to the Pharmaceutical and Biotechnology industries.
As pharmaceutical companies’ offerings have become more complex and diverse, we have seen more and more variance in the quantity and depth of services required at any given time. This non-linear trajectory of service demand has increased the need to outsource key development and manufacturing services, as keeping them in-house would create either under-utilization or capacity-constraint issues along the development lifecycle.
The efficiencies gained by the moulding of these two key industries has accelerated critical advancements in targeting and treating many devastating diseases.
The harmonious model has also allowed for a projected double digit compound annual growth rate over the coming years for both industries. Such a high rate of growth comes hand-in-hand with a demand for top talent to stay at the cutting edge of the contract services sector.
Simply relying on scaling manufacturing capabilities and tried-and-tested sales models could leave your business falling behind in the pack. Innovation is more important now than ever within contract services, and that includes your hiring strategy.
At New Era, we understand the complexities involved in transitioning from a CRO or CMO to a full service CDMO, or expanding internationally, or even simply building out an entirely new C-suite for necessary transformational change to stay ahead of the curve in a very fast-changing marketplace.
As Pharmaceutical companies look to work with a small number of suppliers to limit costs and risks involved in technology transfers and time delays, M&A activities have been increasing in recent years.
Acquiring companies are often willing to pay large multiples for their targets to take advantage of the synergistic opportunities that are presented by Pharma demanding more streamlined contract service outsourcing strategies.
The post M&A environment therefore is one that needs competent leaders and industry visionaries to extract these synergies. Having now worked with many contract services businesses that have gone (or are currently going) through these types of drastic change, we aren’t only a talent scout, we’re a talent advisor too.
Whether you’re going through an M&A, international expansion, or building out services in drug discovery, development, manufacturing, logistics, or anything in between, we understand the nuances of what is required to add value to your business through well thought out critical hires.
Want to know how New Era can help with your next strategic hire? Get in touch today
Looking for your next career move in the industry? Get in touch to see how we can help.