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Cutting costs: biotechs outsourcing work to preserve cash.

Publication: San Diego Business Journal
Publication Date: 01-DEC-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Squeezed credit markets have reigned in spending at San Diego's small and midsized biotech companies, many of which have less than a year's worth of cash on hand to keep operations running.

Consequently, biotech firms have begun implementing cost-cutting measures that have reduced work forces and scaled back research and development efforts.

Contract research organizations, or CROs, offer local biotech companies an attractive avenue for savings during these cash-strapped times.

By outsourcing a bigger portion of their drug discovery and development work, smaller biotechs say they're able to save 30 to 40 percent of the typical costs involved in identifying potential new drug candidates.

Smaller biotechs find it more practical to pay CROs for their internal expertise, laboratories and equipment to handle human and animal studies than to conduct...

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