Pharmaceutical contract manufacturing

In the past it was standard practice for large pharmaceutical companies to turn to contract manufacturing organizations (CMOs) to achieve efficiencies in cost and capacity, or to obtain a specific expertise not available in-house. While these factors still play a role, the most dynamic driver behind the use of CMOs in the pharmaceutical industry is rapidly becoming the unique, innovative, and state-of-the-art process and production technology on offer. More and more pharmaceutical companies are leaning towards outsourcing to concentrate on marketing their products, while saving time and headaches involved in manufacturing. In the last decade or so there has been a complete globalisation in contract manufacturing with the involvement of companies from India. Worldwide revenue for contract manufacturing and research for the pharmaceutical industry was estimated at $100 billion in 2004 and is expected to grow in double digits to more than $160 billion in 2009. Radico Remedies has been carrying out contract manufacturing for various organisations in India and with the setting up of new plant, the revenues from this area are expected to grow faster. Read the complete article on pharmaceutical contract manufacturing at Radico Remedies Website.