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Managing clinical trial budget overruns and minimising overall costs

As pharmaceutical and biotechnology trials become increasingly complex, it is becoming more important for clinical trial managers and procurement managers to keep their costs under control, while still ensuring quality results and regulatory compliance within required timelines.

According to a recent survey, the variances between forecasted clinical costs to actual trial costs remain high; despite the ongoing industry push for greater efficiency in clinical trials.1 In addition, unpredictable factors such as new industry regulations, supply chain inefficiency and product security concerns (e.g. increasing issues with counterfeit products entering the market) are adding to the pressure of managing clinical trial budgets.2

In this article, we look at some of the main causes of clinical budget overruns, and how some pharmaceutical healthcare sponsors are working collaboratively with supply chain partners to reduce their overall clinical trial costs.

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1 http://www.contractpharma.com/issues/2011-10/view_features/the-struggle-with-clinical-study-budgeting/. Accessed November, 2016.

2 http://www.inboundlogistics.com/cms/article/controlling-costs-in-the-healthcare-supply-chain/. Accessed November, 2016

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