In smaller companies, it is more likely that an existing senior executive officer will be assigned CRO
responsibilities until a time when conditions warrant a dedicated position.
The breadth of services and technology available through our eClinical CRO
Partner Alliance has never been seen before in this industry," Attanucci said.
They haven't come out and said, 'We want you to have a CRO
,' but it can certainly push you in that direction," French said.
This environment provides the CRO
physician with a broad range of experience in the problems unique to developing drugs and devices for his particular specialty.
While the purpose of the CRO
is to drive risk awareness within the company, the position can take on a few different characteristics depending on the needs of a business.
Each team reports to the CRO
and the business unit head and is responsible for managing all risks--from operational and market to financial risks.
Rick" Machold, vice president and CRO
of Atlanta-based Certegy Inc.
As the CRO
market has grown more fragmented and competitive, technology, capacity and speed are key ways in which a CRO
can distinguish itself from its competitors.
Analysis of the key technologies that affect CRO
In recent years, pharmaceutical firms have started to work with a CRO
who has capability to offer full service with enough resources.
A good CRO
can create structures and practices that help a company improve its competitive position, such as implementing strategic technologies for the most effective and secure management of data.
Datamonitor, a market research firm focused on drug development issues, predicted in 1997 that by 2003 the CRO
market will be worth $10 billion.