How to Find Right Pharmaceutical Contract Manufacturing Company
How to Find Right Pharmaceutical Contract Manufacturing Companies
India is the 3rd largest manufacturer of Pharmaceuticals in the world in terms of volume. Pharmaceutical contract manufacturing companies are leading contributors in making India the pharmacy of the world. There are approximately 11,000 pharmaceutical manufacturing units in India. A large number of these companies are also involved in contract manufacturing and research services, popularly known as CRAMS.
What is pharma contract manufacturing?
Pharmaceutical contract manufacturing is the process of outsourcing the manufacturing of pharma products on behalf of a third party. Pharmaceutical contract manufacturers (PCMS) support the manufacturing of quality backed pharmaceutical products at reasonable prices. Generally, companies seek the help of contract manufacturers to produce a product economically and within a certain period of approved time frame.
The COVID-19 pandemic pushed the contract manufacturing in pharma sector in a big way, as pharmaceutical sector leaned towards it to meet the increased demand. Its global growth from US$934.8 billion in 2017 to $1.17 trillion in 2021 shows the scale that is possible to achieve.
To meet the increasing demand, pharma companies are facing burden on several fronts. Their financial performance takes hit, especially when it comes to buying and running expensive equipment for the mass production of pharmaceuticals. To combat this, many companies have begun outsourcing their manufacturing to CMCs. CMCs have the equipment, facilities, and labor force to carry out a more cost-effective production as a result.
Partnering with the right contract manufacturer is becoming a practical trend among pharma manufacturing companies. Contract manufacturing majorly includes the manufacturing of pharma formulations including solid and liquid dosage forms, injectables as well as bulk drugs and APIs.
Advantages of pharmaceutical contract manufacturing :
Setting up a manufacturing pharma manufacturing facility requires huge investment in terms of both fixed and variable cost. It is more cost effective for a pharma company involved in R&D and new drug development to outsource the pharma manufacturing. A CMO, has an already established expertise and infrastructure to produce the drug at much cheaper rates which can be utilized by pharma companies.
Use of advanced technologies and skills for manufacturing in pharma sector is prerequisite for quality production. CMOs have already established expertise and facilities to manufacture at full scale with right regulatory requirements. They have strong ties with the raw material suppliers and have incorporated various efficiency methods to manufacture at the lowest possible operational cost.
CMOs have pre-established quality checks in place that have been refined over the years. They have been manufacturing in compliance with various standards used in different countries. Also, they have specific systems in place to control the quality of the end product. Pharmaceutical contract manufacturing helps the companies to make use of such quality control techniques to ensure compliance with different quality standards around the world.
Through CMOs, a pharmaceutical company can enter into new markets at minimal financial risks. There is no need for local investment in the areas of the capital, time and executive talent. A CMO can help such companies in minimizing these kinds of risks.
Capabilities of CMCs
The main capabilities or capacities of pharmaceutical contract manufacturing include –
- solid dose tablets, capsules, and oral liquid production.
- Process development.
- stability testing programs.
- clinical supplies manufacturing.
- analytical method development and validation.
- unit dose blister packaging with barcoding, and regulatory consultation etc.
How to Find Third Party pharma Contract Manufacturer
Although, contract manufacturing and third-party manufacturing is very common in pharma sector, there is lack of information about the CMOs in India. Indian pharma companies and multinationals entering Indian pharma market have to depend on Google Search or references to find the partners. This information sometimes is outdated with not capacity information available.
Online Technology platforms like Capximize becomes handy in such cases. Capximize platform helps pharma companies in finding right third party manufacturing companies for contract manufacturing. Platform helps in online manufacturing by providing in-depth and broad-spectrum information available about available spare manufacturing capacity with pharma companies in India. With its proprietary algorithm-based recommender system it helps its members to connect with global pharmaceutical manufacturers looking for manufacturing capacities across India.