Choosing the Right Contract Pharmaceutical Manufacturing Company in Singapore
The development and manufacturing of medicines and supplements is a time-consuming process that requires a wide range of expertise. Furthermore, its timely execution necessitates that all parties involved in the process be completely in sync, which can be difficult for pharma companies, especially when planning a large consignment. So, what’s the exit strategy? That’s when a contract manufacturing company comes in to save the day.
What does a Contract Pharmaceutical Manufacturing Company in Singapore do?
Did you know that only about one-third of pharmaceutical production is done in-house? That is correct. From diabetes medicine to biologics in cold chain, pharmaceutical companies are increasingly choosing to outsource the majority of product manufacturing. Contract pharma has grown to become a multibillion-dollar industry. While it is an exciting time to be in the medical discovery industry, the cost of operations, the need to comply with regulatory requirements, and other factors have become burdensome. From research and development to commercial manufacturing, pharmaceutical manufacturing is a highly complex process.
Contract pharmaceutical manufacturing in Singapore is expanding, with a significant market share in the pharmaceutical sector, particularly in Chinese proprietary medicines and health supplements. It is a major driving force in the pharmaceutical industry as a whole. They offer a variety of services to businesses that sell pharmaceuticals and health supplements. The pharmaceutical company provides formulation to the Contract Pharmaceutical Manufacturing Company, while the latter assists with materials, labour, production, and packaging.
What are the Factors that You Need to Consider when Hiring a Contract Pharmaceutical Manufacturing Company?
When it comes to due diligence, there are a few basic things to look for when hiring for pharmaceutical manufacturing company in Singapore, such as:
Company Profile
The company profile includes its history, reputation, and experience. There is a lot at stake when you outsource the manufacturing of your patented product to another company: your reputation, the trust of your customers, the quality of your medicine, its efficacy, and brand value. When entrusting so much to a company, you must be confident in their market reputation and integrity. Before signing on the dotted line, you should conduct thorough research, read reviews, and ask for referrals as well as other financial and manufacturing details. Aside from these, you should inquire about the company’s experience in manufacturing pharmaceutical products.
Compliance and Credentials
Is the company licensed to manufacture pharmaceuticals? Are they GMP-compliant? As a Contract Pharmaceutical Manufacturing Company, the company must adhere to geographical and industry-specific compliances that attest to its credibility as a pharma manufacturer. In Singapore, for example, you should work with a company that has been approved by the FDA and the Health Sciences Authority of Singapore.
Manufacturing Quality
Your reputation and the safety of your customers are dependent on the quality of the manufactured product, so make proper inquiries before hiring. Look for a contract manufacturing company that is licensed.
To summarize, before outsourcing pharmaceutical manufacturing in Singapore, ensure that it has a good reputation, expertise, credentials (GMP certified company), manufacturing quality, and adherence to regulatory compliances. Furthermore, while hiring a Contract Pharmaceutical Manufacturing Company can help to streamline your production process, it is critical to ensure that the product’s quality remains impeccable.
