Buying a bioanalytical lab vs. building one yourself – what do you need to consider?
With so many outsourcing/insourcing options across the drug development workflow, Pharma companies are faced with finding the right partner to fit all the needs of their unique molecule. Here are some criteria to consider:
- Time to Launch: timelines depend on the approach. A built-for-purpose project translates to long timelines due to all the parties involved. You need time to evaluate location, engineers, & architects. Return on investment and risk impact: both are dependent on the number of programs and the diversity of projects. To fully evaluate, you need to build utilization models to analyze and make predictions
- Staffing appropriately: the job market can be challenging to navigate, and it could prove to be challenging to find the right expertise and employees. Be prepared for this process to take time and be costly.
- Day to Day Logistics: there are a wide variety of permits & licenses needed for day-to-day operations. This regulatory environment can be complicated to navigate as you manage the applications, requirements and maintenance required.
If you are interested in learning more about permits & licenses specifically, check out our fact sheet: Guidelines to Importing & Exporting Biological Samples - And much more…
Explore our comprehensive guide that outlines the benefits & risks associated with buying or building a bioanalytical lab and see what choice is best for you.