Contract research organizations (CROs) are being increasingly used by biotechnology, pharmaceutical, and medical device sponsors due to various driving factors such as cost containment pressures, globalization of clinical research, and the ability of CROs to conform to government regulations and international standards. As per the latest statistics, the CRO industry is expanding with about $50 billion spent on CRO services in the last year.
Key Elements in the Sponsor + CRO Relationship
Clear communication is vital for a successful sponsor/CRO relationship to establish trust, define expectations, ensure data integrity, and address risks. Communication becomes more challenging when research is conducted in emerging countries due to language and cultural barriers. Therefore, the CRO’s responsibility is to establish relationships in emerging countries to ensure that clinical research trials proceed without delays.
The management style is another crucial factor in the sponsor/CRO relationship. A sponsor needs to provide guidance and support to the CRO without micromanaging to avoid compromising the benefits of working with a CRO, the budget, the timeline, and the quality of data. Sponsors and CROs need to be transparent and honest about their management styles and needs.
Sponsors must evaluate CROs based on commercial market knowledge, staff turnover, project manager quality, responsiveness, communications, and therapeutic expertise. The organizational structure and financial health of the CRO, history of respecting budgets and timelines, conducting audits, and delivering clean data are other important factors to consider.
Where Confidence Pharmaceutical Research Fits In
Confidence Pharmaceutical Research is a reliable CRO that has managed every phase of clinical trial research for over 30 years and delivered clean data on time, on budget, and in compliance with government regulations and industry standards.
The use of CROs is expanding in the pharmaceutical industry, and sponsors need to evaluate the CRO based on various factors before choosing the right one for their clinical trials. Clear communication, a defined management style, and an evaluation of CROs based on various factors are crucial for a successful sponsor or CRO relationship. Contact us today to find out more.