Investment
The outlook for CROs is currently very good. Global spending on outsourced R&D grew by 15 percent in 2010 to reach $28 billion and major pharmaceutical companies announced 22 strategic alliances with CROs in 2010/11. (Source: Contract Research Annual Review 2011)
Investment potential and opportunities for CROs in Scotland
The 50-plus contract research organisations (CROs) in Scotland comprise home-grown companies and major international corporations. They undertake both clinical and pre-clinical activities and employ in excess of 2,500 staff.
Scotland is perfectly placed to capitalise on this growing sector and hence opens up additional opportunities for companies seeking to outsource R&D.
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Clinicians in Scotland have developed long-standing clinical and biomedical expertise complemented by more fundamental research in Scottish universities
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Scotland is the ideal location for multi-centred trials – it has invested significantly in world-class clinical research facilities and collaboration across the NHS
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Scotland’s CROs have extensive experience carrying out specialist trials, for which there is increasing demand internationally
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Per head of population, Scotland carries out more medical research than anywhere else in Europe
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Scotland already has a substantial infrastructure in place to assist in the production of new drug development
Several Scottish CROs are also involved in developing new pre-clinical techniques that help drug development companies identify problem drugs earlier in the process.
Scotland is quickly becoming a key player in the world of medical research, helping to develop new drugs and bring them to the market more quickly and efficiently.
More on the investment potential and opportunities for contract research organisations in Scotland