Flexibility in Outsourcing Models (BIO 2024)
The PharmTech Group spoke with BIOVECTRA's director of Business Development, Nucleic Acid Modalities, Jessica Madigan, about the concept of flexibility in outsourcing and the 2024 BIO Convention.
Outsourcing pharmaceutical manufacturing and development processes can provide pharmaceutical companies with financial flexibility, according to Jessica Madigan, director of Business Development, Nucleic Acid Modalities, at BIOVECTRA. The PharmTech Group spoke with Madigan after the BIO International 2024 Convention to learn more about the flexibility outsourcing models can provide.
“At BIOVECTRA, we offer flexible pricing models that can help companies manage cash flow and financial risks,” said Madigan. “[Pharmaceutical companies can reduce] capital investments by leveraging the infrastructure and specialized equipment that is already onboarded at CDMOs [contract development and manufacturing organizations]. This can be especially important for startups and small biotechs. … it allows them to direct the resources to their other business areas, rather than building up infrastructure and investing in specialized equipment.”
Madigan details the five different models her company provides, including a dedicated facility model what includes an entire building or facility reserved for the customer. Fractional ownership of a facilities with other customers is also available. “That way, we can [leverage] essentially a platform manufacturing process or a similar platform manufacturing process across several clients, that offers flexibility of capacity between those different partners, and allows a lower entry into a larger capacity.”
Click on the video above to watch the full interview. BIO 2024 occurred on June 3–6 in San Diego, Calif.
