10 January 2023 | Tuesday | News
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ProPharma Group – the end-to-end, global provider of regulatory, clinical and compliance services for the pharmaceutical, biotechnology and medical device industries – today launched the Research Consulting Organization (RCO) model, a new type of research consulting and clinical service for biotech, pharma and device innovators to deliver bespoke solutions that bring life-saving drugs to market sooner and more cost effectively.
Announced at the opening of this year’s J.P. Morgan Healthcare Conference, the new model will provide innovators with unmatched access to the world’s leading strategists to de-risk their most critical programs and provide sponsors and physicians with the greatest probability of success. By drawing on its expertise across areas including regulatory strategy, clinical development, quality and compliance, pharmacovigilance and medical information, the model also harnesses an increased scale of operations and data-driven insights to drive greater R&D productivity for clients, cutting delays and budget overruns.
ProPharma is introducing itself to a global audience for the first time as the world's largest Research Consulting Organization, underpinned by a $50m investment. The new strategy and operating model are further supported by the launch of a global re-brand, including a modern look and feel for the organization and overarching ProPharma brand. In addition to new branding, existing and prospective clients will enjoy an enhanced digital experience across engagement channels including the website (www.propharmagroup.com), social media and client-facing communications.
According to a new White Paper released today, ProPharma is also taking a bold leadership position in a dynamic industry and is confident the life sciences industry at large will benefit from its groundbreaking RCO model. Fit-for-purpose, and built-for-the-future, the RCO will benefit clients of all sizes, including emerging clients who may have received less attention in the past; growing clients who require partnership and expertise to achieve momentum and scale; and established clients who require experienced global capabilities coupled with scaled operational support.
The White Paper references major consolidation and huge growth among CROs in recent years. This trend, caused by organizations seeking to secure the biggest returns for shareholders, has left smaller and medium players contending with lesser resources to recruit patients to trial, drastic delays to the approval of medicines and treatments and costly budget overruns.
The White Paper further outlines that smaller programs, for example those developing molecules for rare and orphan diseases, innovative new devices or cell therapies, need bespoke solutions that are readily available and more effectively delivered through the new RCO approach.
Michael Stomberg, CEO of ProPharma Group, said: “The Research Consulting Organization (RCO) model is designed to lead to optimal results and provide a real alternative for sponsors who don’t fit the mold. While we’re unveiling this new model today, the reality is that we’ve been planning this for some time, in light of feedback from our customers.
“The RCO is a fit-for-purpose, built-for-the-future solution that gives the resources our customers need at every point in their development continuum, no matter their size. This innovative approach will act as the umbrella over distinct service offerings, allowing us to provide deep scientific and technical expertise – including access to some of the world's leading experts – to help sponsors get life-saving drugs and treatment to market faster and more cost-effectively.
“As part of the new operating model and our global re-brand, ProPharma’s purpose, mission and vision are evolving to ultimately further help improve the health and safety for patients around the world.”