Vendor strategies in the global pharmaceutical contract research and manufacturing market

The global pharmaceutical contract research and manufacturing market is expected to grow at a CAGR of 9.38% during the forecast period. Major vendors in the global pharmaceutical contract research and manufacturing market include Boehringer Ingelheim International GmbH, Cadila Healthcare Ltd., Catalent Inc., Dr. Reddy’s Laboratories Ltd., ICON Plc, IQVIA Holding Inc., Laboratory Corporation of America Holdings, Lonza Group Ltd., PRA Health Sciences Inc., and Thermo Fisher Scientific Inc., among others.

Vendors are focusing on various strategies such as M&A and partnerships to expand their reach in the market. For instance, Boehringer Ingelheim International GmbH, in September 2018, Boehringer Ingelheim acquired ViraTherapeutics to strengthen its viral-based immuno-oncology therapy platform. Cadila Healthcare Ltd., in February 2020, the company had received the approval from the USFDA to market Mesalamine suppositories for rectal use, 1000 mg.

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Catalent Inc., in February 2020, the compang had signed an agreement with Zumutor Biologics Inc. to manufacture Zumutor’s lead candidate, ZM008, for the treatment of solid tumors. Dr. Reddy’s Laboratories Ltd., in February 2020, the company had entered into an amendment of its collaboration, license and option agreement with Aurigene Discovery Technologies Ltd. for the development and commercialization of CA-170. Hence, the increasing number of M&A and partnerships is expected to boost the growth of the global pharmaceutical contract research and manufacturing market during the forecast period.