When it comes to the money-making world of pharmaceuticals, cost reduction is always a desired goal. As such, drug companies have been outsourcing drug production for years to cut costs and regulate spend management.
However, Outsourcing-Pharma.com reported that industry experts are looking into considerations beyond cost efficiency when choosing contractors.
Jim Miller, president of PharmSource Information Services, said that while cost reduction plays a big role in outsourcing for pharmaceutical firms, pharma also examines how contractors are working to minimize the environmental impact of drug production, according to the news source.
This green criterion fell alongside supply chain stability and access to markets in a study conducted by Deloitte.
Piramal's pharma solutions' head of R&D, Dhileepkumar Krishnamurthy, noted that pharma firms don't have to make green sourcing or cost reduction sourcing an either/or scenario, reported Outsourcing-Pharma.com. Many green chemistry solutions offer the advantages of both.
With the U.N. General Assembly adopting the 2030 Agenda for Sustainable Development this month, it seems as though all global sourcing - pharmaceutical or not - will be heading in a green direction over the next decade or so.
With this in mind, drug production companies should take a close look at their production process and its environmental consequences or they could begin to see a decrease in business.