Should pharmaceutical companies augment their offshore strategies by performing some clinical trials in lower-cost locations?
The short answer is yes. Emerging markets offer faster time to market, reduced costs and the same high quality that companies demand. But which countries present the best opportunities? China, India and Russia top the list according to A.T. Kearney’s Country Attractiveness Index for Clinical Trials. Healthy margins and little appetite for risk have kept most pharmaceutical companies close to home, for all but their manufacturing activities. But as financial pressures increase, pharmaceutical executives are finding that going offshore is not only less risky than it once was but also too attractive to ignore. This is especially true for conducting clinical trials, which can account for two-thirds of the cost of developing a new drug. The leading global pharmaceutical companies conduct the majority of their clinical trials in familiar territory, with most trials taking place in the United States and Western Europe. Those highly touted, low-cost countries that other industries favor are st
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