2. Cost-Effectiveness
- Small companies often have limited budgets and expect CROs to deliver high-quality services within cost constraints.
- Transparent pricing models to avoid unexpected expenses.
3. Flexibility
- Small companies often face unexpected project- or company-related events that force them to slightly correct the route of the product development. A prompt, GCP-compliant response by the CRO is critically important.
4. Personal Interactions and Emotional Intelligence
- All companies use CROs in an effort to expand their internal resources, expecting to include the CRO’s assigned staff into the project team as “colleagues,” willing to share the same goals and motivations.
- An expert, emotionally intelligent, and communicative CRO-assigned Project Manager makes all the difference in the world. Based on more than thirty years of experience, this is by far the most important factor for a successful collaboration and excellent study performance.
For small pharmaceutical companies, partnering with a CRO is the most cost-effective and strategic way to navigate the complexities of clinical trials and regulations, given their limited in-house resources and budgets. While the relationship between both parties is often viewed as transactional, the reality of the matter is that successful collaborations between small pharmaceutical companies and CROs rely on trust, communication, and a shared commitment to the trial’s success.
These small organizations are therefore looking for more than just a team of experts to provide expertise, regulatory knowledge, and operational support; they are looking for a trusted partner that can function as an extension of their team, working in tandem toward a common goal.