One of the ways to trim drug development costs and be more efficient is to outsource some areas of drug development. When outsourcing, sponsors have found it acceptable to utilize contract research organizations (CROs) and functional service provider (FSP) models. In recent years, many companies have realized the benefits that narrower, functionally-specific FSP models provide, which has made FSP increasingly relevant. Now FSP models provide increased operational and resourcing flexibility and different pricing plans in comparison to traditional full-service CRO offerings.
It is no secret that expertise in functional areas accelerates drug development delivery. Plans for outsourcing will include functional areas that augment a sponsor’s internal technology, resources, and people. With a tailored-for-need FSP model, cost efficiencies arise from aligning experienced staff with a deep understanding of managing costs and enabling them to successfully plan work
