Indiana companies providing contract pharmaceutical research and manufacturing services continued to grow last year despite
the severe economic challenges, according to a report set to be released Wednesday by BioCrossroads.
The life sciences industry group cited such Indianapolis companies as AIT Laboratories and BioStorage Technologies, as well as Bloomington-based BioConvergence, as examples of the growth.
A drive within the pharmaceutical and biotechnology industries to lower costs by outsourcing work to contract service providers is driving much of the expansion, the report said.
“We believe the outlook for the biopharma contract service sector continues to be positive, particularly for Indiana’s pharmaceutical development and contract manufacturing companies,” BioCrossroads CEO David Johnson said in a prepared statement.
The report said the demand for contract service providers should continue to increase as the need for more clinical trials and biomarker services escalates. However, the report cautioned that consolidation within the pharmaceutical industry also could force contractors to find new revenue sources.
More than 40 companies considered contract service providers are located in Indiana. Altogether, they employ about 9,000 people, the report said.