Hold onto your hats: The global market for contract manufacturing is headed for speedy growth over the next few years. According to a new report from RNCOS, pharmaceutical contract manufacturing is poised to grow about 12 percent per year from 2010 to 2012.
Cost is one of the reasons, of course. Another is the fact that CMOs have built up a lot of manufacturing infrastructure, making more contract work possible. Then there's some companies' new business strategy: the "virtual pharma" that holds marketing rights to a product, but outsources production and the like.
Just where is that CMO business going? According to RNCOS, leading destinations are India, Brazil, Ukraine, Mexico, China and Singapore.
- see the RNCOS release