Drugs discovered today can realistically cost upwards of 900 million dollars and around 12 years of development to reach a market. CRO's have been increasingly used by larger pharma to outsource their clinical research, allowing big pharma to shut down in-house R&D, in practice saving money. There have been some issues however with the outsourcing of trials to CROs, including serious relationship break down with negative attitudes, failure to communicate between to the partners and some claiming CROs do not 'get in the spirit' of the research following only the letter of the contract...
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