Due to the impact of COVID-19, the pharmaceutical sector sought contract manufacturing in a big way. Its growth from USD 934.8 billion in the year of 2017 to USD 1.17 trillion in the year of 2021 provides an insight into the exponential boom this industry is experiencing, although the actual figures could be comparatively much higher due to better healthcare becoming a global priority in the year of 2020.
To keep up with the demand, pharmas have been burdened with the increased financial performance, mainly when it comes to buying as well as running the expensive equipment for the mass production of pharmaceuticals. To combat this, numerous companies have started outsourcing their manufacturing to CMOs who have the facilities, equipment, and labor force in order to carry out the more cost effective production. This sort of outsourcing specifically is a game changer.
Contract manufacturing is a term used when a Pharmaceutical Company uses the facility of other companies ( outsource would be a better word ) for manufacturing products under their brand. Contract manufacturing is the same as private label manufacturing or third party pharmaceutical manufacturing or outsourcing manufacturing. The services of pharmaceutical contract manufacturing companies are not limited to manufacturing only. They provide a host of services which also include: Drug Stability studies, Manufacturing, Development of compliance documents as per FDA regulatory requirement, Developing late stage clinical trial material, Providing scale up and registration batches and Pre formulation.
Ikris Pharma provides Contract manufacturing services to the pharmaceutical companies / Hospital for manufacturing products under their brand / private label. This is in accordance with the regulatory requirements of the particular country. India is a hub of World Pharmaceutical Manufacturing. Following are the big Advantages of getting contract manufacturing from India through Ikris Pharma Network such as:
For Contract Manufacturing/Private Label Manufacturing, please contact us through our TOLL-FREE 1800-889-1064 or Email us at [email protected]. We are happy to assist you.