Manufacturers of pharmaceutical raw materials continue to develop new and better systems to provide biotech and pharmaceutical companies with the raw materials for drugs and other modalities. By sticking with the same raw material pharmaceutical, you may be missing out on new developments made by other pharmaceutical raw material providers. Consider broadening your vendor relationships to remain on the forefront of new discoveries.
More companies are providing chemical raw material through global exchanges that were not available in the past. A pharmaceutical raw material supplier may be able to supply your need for pharmaceutical raw materials in a more efficient manner, despite transportation issues and costs.
1. Contract your drug raw material requirements on a case-by-case basis
2. Build overseas relationships for obtaining raw materials for pharmaceuticals
3. Participate in organizations that promote pharma raw materials and their efficacy
Action Steps
The best contacts and resources to help you get it done
Put out a request for proposal (RFP) when you have a new project
A pharmaceutical raw material supplier may be better able to handle one of your projects better than another, while your current pharmaceutical materials provider may be the best to retain for your core research. An RFP can help you gauge the current rate of pharmaceutical raw material prices while exposing you to potentially brilliant partners.
I recommend: Cardinal Health has recently streamlined its pharma raw materials systems as well as made themselves a lean company with competitive pricing.
Noah Technologies Corporation is an ISO 9001 chemical raw material supplier with a strong commitment to high purity chemicals for research. You can search their catalog online.
Look around the world for exciting pharmaceutical materials opportunities
Countries around the world are often make advances in raw materials for drugs and other biotech research that is far out passing their American peers. Find a U.S.-based logistics firm to take advantage of open trade markets and the opportunities they bring for you company to get the best pharmaceutical raw material prices and products on time for your market.
I recommend: Sentry Logistics is a leading pharmaceutical raw material logistics firm that can provide cold storage and logistics for the biotech and pharma raw materials industry.
AcuTemp specializes in custom pharmaceutical materials delivery systems. They work with clients to find the lowest cost solutions for moving and storing raw materials for pharmaceuticals.
Know who is making the progress in your industry through pharma raw materials industry associations
The biotech and pharmaceutical industries can become behemoths to keep up with. Emerging companies are constantly coming up with new and better ways to provide and use pharmaceutical materials. By joining and remaining active in an industry association, you will be in a position to often be the first to hear about breakthroughs in the industry.
I recommend: The
Association of Petrochemicals Producers in Europe is a trade industry group for drug raw material and other biotech indutries with a global membership. In addition to a network of industry contacts that are available through memberships, you also can subscribe to a newsletter that present emerging technologies.
PHRMA is the largest group of pharmaceutical and biotech leaders in the U.S. They too have a regular newsletter.
Tips & Tactics
Helpful advice for making the most of this Guide
- Hire a raw material pharmaceutical consultant to help you navigate the global trading platforms until you develop your own foreign contacts and master the trade restrictions and requirements thoroughly.
The official source of Pharmaceutical Raw Materials is
the Pharmaceutical Raw Materials page at Business.com
Related Resources from Business.com
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