According to a report published by Grand View Research, the trend of outsourcing shows a consistent growth in the life science industry. On the whole, global regulatory affairs outsourcing market was valued at US $5.7 billion in 2018, and is expected to witness a compound annual growth rate of 11.9% over the period to 2026.
Most pharmaceutical companies are focused on reducing operational costs by rationalizing their workforce, whilst harmonizing priorities between new product development and lifecycle management. Freyr Regulatory Affairs solution suite provides a custom-made service platform, including outsourced support for lifecycle management and strategic staff augmentation, to reduce costs while meeting the needs of the organization. This results in the Expensive and highly skilled staff freed up to focus on high priority projects. Subsequently this leads to an accelerated submissions, substantial increase in on-time tender support and ultimately an increased percentage of winning bids.
Freyr Regulatory Affairs solution suite focuses on cost-effective regulatory services combined with process and technology tools to achieve incremental productivity improvements.
- Freyr balances the multi-country delivery approach between strategy focused local country services and mundane operational services, performed from centralized low-cost country locations
- With the balanced approach, customers benefitted with 25-60% cost reduction, alongside entrusted quality and service level expectations